Stablecoin Giant Tether Celebrates 10th Anniversary: ​​The Journey So Far

Leading stablecoin issuer 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 Tether press release, the crypto company will commemorate the anniversary by releasing a documentary titled “Stability and Freedom in Chaos.” The documentary will highlight Tether’s impact in countries such as Turkey, Argentina and Brazil, where its pioneering product, USDT, has become a lifeline for millions of users battling rising inflation.

Tether’s journey so far

Since its inception in 2014, the company has seen remarkable growth in active users across blockchains, centralized exchanges, and regions. By 2024, Tether users in various markets increased to 350 million, signifying an increase in the utility and popularity of USDT.

Tether said USDT’s daily, weekly, monthly and yearly active users have also shown steady growth, reinforcing the asset’s reputation as a stable currency of reference for daily and institutional transactions. The company also has a wide range of stablecoins pegged to other fiat currencies in addition to the USD.

“Tether’s multi-chain support, seen on blockchains such as Tron, TON and Ethereum, has further contributed to the expansion of its user base, making it easier for retail and institutional users to access and use the stablecoin in their favorite platforms with low fees,” said the PR.

The expansion of USDT’s user base has made it the most widely used and largest stablecoin, with a market cap approaching $120 billion. The asset has also been crucial in strengthening the US dollar’s dominance overseas. Tether is currently one of the top 20 buyers of US Treasuries, surpassing countries such as Germany, the United Arab Emirates and Australia.

Additionally, Tether has expanded its business framework beyond stablecoins, venturing into other sectors such as data, energy, artificial intelligence, and education. The stablecoin issuer has worked with more than 180 law enforcement agencies to recover more than $1.8 billion linked to illicit activities.

Future plans

While Tether has seen significant growth, the company says there are still “big problems to solve” in the crypto industry. The company is looking for solutions in areas such as regulatory clarity, scalability and the real utility of cryptocurrencies.

Tether envisions a future where crypto payments are fluid, accessible and inclusive for everyone, so the next decade will be focused on improving global financial inclusion and fostering innovations in various sectors.

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