Stablecoin Giant Tether Celebrates 10th Anniversary: The Journey So Far
The leading stablecoin issuing company, Tether, is celebrating its tenth anniversary and a decade of innovation that has contributed to the advancement and development of the digital asset landscape.
According to a press release by Tether, the crypto firm will commemorate the anniversary by releasing a documentary titled Stability and Freedom in Chaos. The documentary will highlight Tethers impact in countries like Turkey, Argentina, and Brazil, where its pioneer product, USDT, has become a lifeline for millions of users fighting surging inflation.
Tethers Journey So Far
Since its inception in 2014, the company has experienced remarkable growth in active users across blockchains, centralized exchanges, and regions. In 2024, Tethers users across multiple markets rose to 350 million, signifying an increase in USDTs utility and popularity.
Tether said USDTs daily, weekly, monthly, and yearly active users have also shown consistent growth, reinforcing the assets reputation as the go-to stablecoin for everyday and institutional transactions. The company also has a wide range of stablecoins pegged to other fiat currencies besides the USD.
Tethers multi-chain support, seen across blockchains such as Tron, TON, and Ethereum, has further contributed to its expanding user base, making it easier for retail and institutional users to access and use the stablecoin on their preferred platforms with low fees, the PR stated.
USDTs expanding user base has made it the most widely used and largest stablecoin, with a market capitalization approaching $120 billion. The asset has also been crucial in reinforcing the U.S. dollars dominance abroad. Tether is currently one of the 20 largest buyers of U.S. Treasury bills, surpassing countries such as Germany, the UAE, and Australia.
Additionally, Tether has expanded its business framework beyond stablecoins, venturing into other sectors like data, power, artificial intelligence, and education. The stablecoin issuer has collaborated with over 180 law enforcement agencies to recover more than $1.8 billion linked to illicit activities.
Plans for the Future
While Tether has recorded significant growth, the company says there are still big problems to be solved in the crypto industry. The firm is pursuing solutions in areas like regulatory clarity, scalability, and the real-world utility of cryptocurrencies.
Tether envisions a future where crypto payments are seamless, accessible, and inclusive for all, so its next decade will be focused on enhancing global financial inclusion and fostering innovations in diverse sectors.
The post Stablecoin Giant Tether Celebrates 10th Anniversary: The Journey So Far appeared first on CryptoPotato.
Read more: https://cryptopotato.com/stablecoin-giant-tether-celebrates-10th-anniversary-the-journey-so-far/
Text source: CryptoPotato
