Tether says USDT added 36.25 million wallets in Q3 2024

Tether’s USDT stablecoin is continuing to expand at a pace of more than 30 million new wallets a quarter, CEO Paolo Ardoino said, taking its user base above 550 million in 2026 after reaching about 500 million wallets by November 2025. Ardoino has said adoption is concentrated in developing countries and that 50-60% of USDT usage is tied to cross-border trade and payments rather than trading activity alone. The growth has been mirrored on Tether’s balance sheet, with USDT’s market capitalization climbing toward $190 billion this year and briefly overtaking ether to become the second-largest cryptocurrency by market value at about $186.06 billion versus ether’s $185.66 billion before slipping back. A BDO attestation showed Tether generated about $1.04 billion in net profit for the quarter ended March 31, 2026, while excess reserves rose to a record $8.23 billion. Tether also added 951 BTC to its dedicated reserve address in April, bringing its bitcoin holdings to 97,141 BTC. The company has paired that scale with product expansion, launching the self-custodial tether.wallet app in April with human-readable addresses and no gas tokens, while Fortune reported earlier in the year that Tether held $187 billion in assets and was planning a U.S. expansion that includes a dollar stablecoin tailored for the American market. Tether’s figures continue to underscore USDT’s role in remittances, savings and payments across emerging markets, though wallet totals do not equate to unique individual users because one person can control multiple addresses.