Tether CEO: More than 300 million people around the world use USDT, and Tether is the main buyer of US Treasury bonds
According to Be In Crypto, Paolo Ardoino, CEO of Tether, recently emphasized the important role of USDT in driving demand for the US dollar in emerging markets. Ardoino revealed that over 300 million people worldwide use USDT as digital dollars, providing basic financial services to communities in developing countries. This stablecoin improves the efficiency of fund transfer and storage, bypassing the traditional financial system that often excludes people with inadequate banking services. This means that if Tether's USDT usage is equivalent to that of a country, its economic size will exceed countries like Indonesia, Pakistan, and Nigeria. Therefore, the high acceptance of USDT has a significant impact on the global financial system.Ardoino pointed out that Tether is one of the top three buyers of short-term US government bonds globally, and overall ranks among the top twenty buyers. This reflects Tether's increasing influence in the financial sector and the increasing integration of virtual assets with the traditional financial system. Ardoino's comments were in response to an article that pointed out that dollar-backed stablecoins are fueling demand for US public debt.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitget donates HK$12 million to support fire rescue and reconstruction efforts in Tai Po, Hong Kong
Bitget Spot Margin Announcement on Suspension of ELX/USDT Margin Trading Services
Enjoy perks for new grid traders and receive dual rewards totaling 150 USDT
Bitget Spot Margin Announcement on Suspension of BEAM/USDT, ZEREBRO/USDT, AVAIL/USDT, HIPPO/USDT, ORBS/USDT Margin Trading Services
