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 The amount of exposure places Tether in the top 22 biggest holders of US Treasury bills, ranking above countries like Spain, Mexico, Australia and the United Arab Emirates. 
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<div class="cointelegraph"> 
 Stablecoin issuer Tether has become one of the top buyers of United States Treasury bills in the world, according to a post by Tether CTO Paolo Ardoino.&nbsp; 
 In a social media post, Ardoino highlighted that Tether currently has an exposure of $72.5 billion in US T-<a rel="noopener noreferrer nofollow" title="bills" href="https://thebittimes.com/tag/bills.html">bills</a>. The amount places the stablecoin issuer in the top 22 of US T-<a rel="noopener noreferrer nofollow" title="bills" href="https://thebittimes.com/tag/bills.html">bills</a> holders, ranking above many countries like Spain, Mexico, Australia and the United Arab Emirates, he said. 
 <blockquote class="twitter-tweet"> 
 While @Tether_to reached 72.5B exposure in US t-<a rel="noopener noreferrer nofollow" title="bills" href="https://thebittimes.com/tag/bills.html">bills</a>, being top 22 <a rel="noopener noreferrer nofollow" title="buyer" href="https://thebittimes.com/tag/buyer.html">buyer</a> globally, above United Arab Emirates, Mexico, Australia, Spain, ...$USDt is the most used stablecoin in the world, with a huge focus on emerging markets. For many of these communities USDt is a lifeline… https://t.co/7hC12Nhzdq— Paolo Ardoino (@paoloardoino) September 5, 2023 
 </blockquote> 
 Ardoino believes that this development demonstrates the relevance of USDT (USDT) in various emerging markets across the globe. According to the Tether executive, USDT is providing communities a “lifeline to protect themselves" against the rampant inflation in their national currencies.&nbsp; 
 The executive's sentiments were a response to another social media post that highlighted the lowering rate of China's ownership of US T-bills. According to the report, China is getting out of US debt and is moving its funds into gold. 
 Tether’s ownership of billions worth of US T-<a rel="noopener noreferrer nofollow" title="bills" href="https://thebittimes.com/tag/bills.html">bills</a> was also reported by the company earlier this year. On July 31, the company released a reserves attestation for USDT. According to the report, Tether <a rel="noopener noreferrer nofollow" title="holds" href="https://thebittimes.com/tag/holds.html">holds</a> up to $3.3 billion in excess reserves for its stablecoin. 
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 Meanwhile, the stablecoin issuer is also continuously trying to expand its reach. On Aug. 29, the USDT issuer added a private bank in the Bahamas called Britannia Bank &amp; Trust as a partner, to process dollar transfers within its platform. The company joins Tether's roster of banking partners which include Deltec Bank and Capital Union Bank. 
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/tether-s-ardoino-says-it-s-now-one-of-top-buyers-of-us-treasury-bills-holds-72-5b-tbt61592.html">https://thebittimes.com/tether-s-ardoino-says-it-s-now-one-of-top-buyers-of-us-treasury-bills-holds-72-5b-tbt61592.html</a>

Tether's Ardoino says it's now one of top buyers of US Treasury bills, holds $72.5B

TheBitTimes

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