Tether’s USDt reaches a historic market cap milestone, reflecting its increasing role as a digital dollar for users in emerging markets and developing countries.
Tether’s USDt has surpassed a market cap of $160 billion for the first time, according to CEO Paolo Ardoino, highlighting its growing use as a digital dollar for over 400 million users worldwide. The stablecoin's supply is primarily hosted on the Tron and Ethereum blockchains, with significant backing from cash and US Treasurys. Tether continues to mint new tokens, with $4 billion minted in the past week alone. The stablecoin market is rapidly expanding amid increasing regulatory clarity, with notable legislative efforts like the GENIUS Act gaining bipartisan support.