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 <p class="is-style-lead">Tether’s CTO, Paolo Ardoino, reveals that the company bought more US Treasury <a rel="noopener noreferrer nofollow" title="bills" href="https://thebittimes.com/tag/bills.html">bills</a> than the United Arab Emirates, Australia, Japan, and Mexico.</p> 
 <p>In a post on X (formerly Twitter), Ardoino highlights that Tether’s current hold in the US Treasury <a rel="noopener noreferrer nofollow" title="bills" href="https://thebittimes.com/tag/bills.html">bills</a> is $72.5 billion.</p> 
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   <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
    <p lang="en" dir="ltr">While @Tether_to reached 72.5B exposure in US t-<a rel="noopener noreferrer nofollow" title="bills" href="https://thebittimes.com/tag/bills.html">bills</a>, being top 22 buyer globally, above United Arab Emirates, Mexico, Australia, Spain, …$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</p>— Paolo Ardoino (@paoloardoino) September 5, 2023 
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 <p>In his tweet, the chief technology officer highlights the relevance of USDT in emerging markets since the stablecoin can provide communities with a “lifeline to protect themselves” against the rampant inflation in their national currencies.&nbsp;</p> 
 <p>The stablecoins have proven to hold significant weight in the market, with $125 billion in circulation in&nbsp;early September&nbsp;and large institutions like PayPal releasing their own stablecoins. </p> 
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Tether market cap slips as stablecoin ecosystem shifts 
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 <p>Therefore, Paolo Ardoino’s post about holding T-<a rel="noopener noreferrer nofollow" title="bills" href="https://thebittimes.com/tag/bills.html">bills</a> acts as a level of reassurance to the community since T-<a rel="noopener noreferrer nofollow" title="bills" href="https://thebittimes.com/tag/bills.html">bills</a> are short-term debt obligations backed by the US government and represent an equivalent asset to the stablecoin they represent.</p> 
 <p>At the time of writing, Tether is the top stablecoin by market cap, according to the crypto stats website&nbsp;CoinMarketCap.&nbsp;</p> 
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    Top stablecoins by market capitalization | Source: CoinMarketCap 
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 <p>Despite regulatory uncertainty in the crypto market, Tether continues to expand its reach as the world’s most used stablecoin. </p> 
 <p>Just one week earlier, on Aug. 29, Tether added a private bank in the Bahamas, Britannia Bank &amp; Trust, as a partner for processing dollar transfers on the platform.</p> 
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Tether partners with Bahamas-based Britannia Bank 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/tether-becomes-one-of-us-treasury-bills-major-holders-tbt61655.html">https://thebittimes.com/tether-becomes-one-of-us-treasury-bills-major-holders-tbt61655.html</a></p>

Tether becomes one of US Treasury bills’ major holders

TheBitTimes

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