Tether, the organization responsible for USDT, a stablecoin pegged to the U.S. dollar
The company states this figure represents individual users, not just the total number of digital wallets. This suggests that approximately 6.25% of the world’s population has engaged with the stablecoin.
Tether’s CEO, Paolo Ardoino,
highlighted on X (formerly Twitter) the accomplishment as a major advancement in increasing financial inclusion on a global scale.
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To commemorate this milestone, Tether launched a documentary film, spotlighting the use of their stablecoin within Kenya. The video features individuals explaining how they depend on USDT for everyday financial management, rather than as a speculative investment.
Digital dollars are assisting small businesses struggling with currency depreciation to sustain operations and maintain the ability to pay for imported goods.
Tether also indicated that more than a third of their USDT users, around 37%, primarily utilize it as a store of wealth, as opposed to using it for frequent transactions.
The World Bank estimates that roughly 1.4 billion adults worldwide lack access to traditional banking services.
For many of these individuals, owning a mobile device and using a digital wallet might offer a viable substitute for a conventional bank account, particularly in areas where local currencies are unstable.
On October 16th, Tether revealed its intention to assume a more proactive role in Juventus. Want the details? Get the complete report.