- Tether is constructing a monetary device for the “people left behind”
- The stablecoin was created in 2014 by Brock Pierce, Reeve Collins, and Craig Sellers
- It stays the biggest stablecoin with a market cap price $120 billion
To have fun the tenth anniversary of Tether, the stablecoin is releasing a documentary on USDT and the way it’s working to carry “financial freedom worldwide.”
In a publish on X, Tether stated it will quickly launch its documentary “Stability and Freedom in Chaos.” Throughout the two-minute video, Tether exhibits interviewees from a number of international locations together with Argentina, Brazil, and Turkey.
One interviewee in Brazil said, “Tether with USDT is like 90% of the transactions that Brazil makes during the day.” One other interviewee claimed that folks in Argentina don’t wish to save in pesos, the native foreign money, and desire a secure foreign money like Tether.
Tether, named the seventh-largest Bitcoin holder in April, was created in 2014 by Brock Pierce, Reeve Collins, and Craig Sellars. Earlier than being renamed to Tether, it was often called The Realcoin, and at present is the biggest stablecoin by market cap.
On the time of writing, it’s presently price $120 billion.
Working for the individuals left behind
Constructed on a number of blockchains together with Avalanche, Ethereum, and Polygon, Tether works on a 1:1 ratio, pegging its worth to the US greenback.
Following the Tether documentary information, Paolo Ardoino, Tether CEO, stated on X that the corporate’s mission has at all times been easy: to “carry monetary inclusion to the billions of individuals, primarily dwelling in growing international locations, that may’t have financial institution accounts or that dwell in excessive inflation international locations.
Ardoino, who joined as Tether’s new CEO in 2023, added that they’re constructing monetary know-how “for the people left behind” and that Tether has change into a “symbol of disintermediation, resilience and stability.”
With a whole bunch of thousands and thousands of individuals transacting with USDT, Tether has seen its market share enhance to greater than 75% from 55% over the previous two years, solidifying its presence available in the market.
