Home web3.0 Tether Marks 10 Years of Pioneering Efforts in Cryptocurrency

Tether Marks 10 Years of Pioneering Efforts in Cryptocurrency

Oct 07, 2024 am 06:24 AM
tether USDT Documentary 10th Anniversary

Tether, the issuer behind the leading stablecoin USDT, has recently marked a decade of pioneering efforts in cryptocurrency.

Tether Marks 10 Years of Pioneering Efforts in Cryptocurrency

Cryptocurrency issuer Tether, the company behind the leading stablecoin USDT, is celebrating the 10th anniversary of its pioneering efforts in the digital asset space. Pegged 1:1 to the US dollar, USDT has risen through the ranks to become one of the most popular digital currencies by market capitalization, offering a stable store of value and a widely used medium for transactions.

As part of the commemoration, Tether is releasing a documentary that will highlight the role of USDT in combating inflation in an X post. The film will feature real-world testimonies from people living in countries like Turkey, Brazil, and Argentina, where inflation has eroded the purchasing power of local currencies. The documentary will showcase how individuals in these regions are leveraging USDT as a lifeline against economic instability.

In a recent post, Tether CEO Paolo Ardoino also highlighted the company’s commitment to the underbanked, emphasizing that the firm is focused on empowering those who are overlooked by mainstream banking.

The trailer for the documentary offers a glimpse into the powerful stories of how Tether has integrated itself into the daily lives of those in inflation-stricken economies. In Brazil, one interviewee shares that 90% of the daily transactions made by citizens are carried out using Tether’s USDT stablecoin.

Indeed, in 2023, Brazil saw a remarkable surge in USDT adoption, which now accounts for 80% of all crypto transactions in the country. Reportedly, in May, the stablecoin saw its market share rise by almost 20% since the 2021 bull market in Brazil. This comes as crypto trading activity surged in the country, with Tether’s USDT positioning itself as a dominant force in the country’s financial ecosystem.

Over the past decade, Tether has undergone a significant evolution since its beginnings on the OmniLayer platform, which was built on the Bitcoin protocol. Throughout the years, the stablecoin has expanded to operate across various blockchains, including Ethereum, Tron, and The Open Network (TON). This flexibility has played a key role in USDT’s widespread adoption, particularly in emerging markets where access to stable financial instruments is limited.

Today, USDT boasts a market capitalization of over $120 billion, ranking as the largest stablecoin and the third-largest cryptocurrency overall. The firm continues to diversify its investment portfolio beyond the crypto industry, even as it brings its innovative solutions to new global markets, such as Europe.

The above is the detailed content of Tether Marks 10 Years of Pioneering Efforts in Cryptocurrency. For more information, please follow other related articles on the PHP Chinese website!

Statement of this Website
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn

Hot Article Tags

Notepad++7.3.1

Notepad++7.3.1

Easy-to-use and free code editor

SublimeText3 Chinese version

SublimeText3 Chinese version

Chinese version, very easy to use

Zend Studio 13.0.1

Zend Studio 13.0.1

Powerful PHP integrated development environment

Dreamweaver CS6

Dreamweaver CS6

Visual web development tools

SublimeText3 Mac version

SublimeText3 Mac version

God-level code editing software (SublimeText3)

BITS Coin Airdrop: Earn $BITS Tokens by Completing Tasks, Listing Scheduled for December 24 BITS Coin Airdrop: Earn $BITS Tokens by Completing Tasks, Listing Scheduled for December 24 Sep 11, 2024 am 06:45 AM

BITS Coin Airdrop: Earn $BITS Tokens by Completing Tasks, Listing Scheduled for December 24

Tether Marks 10 Years of Pioneering Efforts in Cryptocurrency Tether Marks 10 Years of Pioneering Efforts in Cryptocurrency Oct 07, 2024 am 06:24 AM

Tether Marks 10 Years of Pioneering Efforts in Cryptocurrency

Tether and Rezo Money Collaborate to Promote Blockchain Education in Guinea Tether and Rezo Money Collaborate to Promote Blockchain Education in Guinea Aug 31, 2024 pm 12:33 PM

Tether and Rezo Money Collaborate to Promote Blockchain Education in Guinea

Tether (USDT) Market Leader Position Reinforced Amid Stablecoin Growth, as the Issuer Adjusts Reserve Distribution to Meet User Demand Tether (USDT) Market Leader Position Reinforced Amid Stablecoin Growth, as the Issuer Adjusts Reserve Distribution to Meet User Demand Nov 07, 2024 pm 10:04 PM

Tether (USDT) Market Leader Position Reinforced Amid Stablecoin Growth, as the Issuer Adjusts Reserve Distribution to Meet User Demand

TRON, Tether, and TRM Labs Launch T3 Financial Crime Unit to Combat Illicit Cryptocurrency Activities TRON, Tether, and TRM Labs Launch T3 Financial Crime Unit to Combat Illicit Cryptocurrency Activities Sep 11, 2024 am 03:45 AM

TRON, Tether, and TRM Labs Launch T3 Financial Crime Unit to Combat Illicit Cryptocurrency Activities

Tether Hires PayPal and Chainalysis Exec Jesse Spiro to Improve Relations With Regulators Tether Hires PayPal and Chainalysis Exec Jesse Spiro to Improve Relations With Regulators Sep 14, 2024 am 09:08 AM

Tether Hires PayPal and Chainalysis Exec Jesse Spiro to Improve Relations With Regulators

Tether CEO Paolo Ardoino Confirmed the Company Has No Plans to Initiate an Initial Public Offering (IPO) Tether CEO Paolo Ardoino Confirmed the Company Has No Plans to Initiate an Initial Public Offering (IPO) Oct 27, 2024 am 07:06 AM

Tether CEO Paolo Ardoino Confirmed the Company Has No Plans to Initiate an Initial Public Offering (IPO)

Indian Crypto Influencer Aditya Singh Alleges WazirX Leadership Attempted to Hide Customer Funds Indian Crypto Influencer Aditya Singh Alleges WazirX Leadership Attempted to Hide Customer Funds Sep 10, 2024 am 12:43 AM

Indian Crypto Influencer Aditya Singh Alleges WazirX Leadership Attempted to Hide Customer Funds