Tether Celebrates 10 Years of Bringing 'Financial Inclusion' to Billions

Stablecoin issuer Tether is celebrating its 10th anniversary along with the success of its flagship product, USDT.

Stablecoin issuer Tether is celebrating its 10th anniversary along with the success of its flagship product, USDT. As part of the anniversary celebration, Tether released a documentary highlighting how USDT has helped users in countries like Argentina and Brazil navigate currency inflation.

According to an October 6 statement, Tether CEO Paolo Ardoino highlighted the company's mission to provide financial access to millions, especially in regions lacking traditional banking services.

"Our focus has always been (and will always be) the last mile. Rich people have already tens of ways to transact and store wealth. We build financial tech for the people left behind,” said Ardoino.

Launched in 2014, Tether's stablecoin, USDT, has grown to become the third-largest cryptocurrency by market cap, trailing only Bitcoin and Ethereum. Data from Defillama shows that the asset has a market capitalization of nearly $120 million, controlling around 69% of the stablecoin market.

However, despite its achievements, USDT has encountered regulatory hurdles and concerns over its reserves. In recent months, several European exchanges have hinted at plans to delist the stablecoin over non-compliance with the region’s Markets in Crypto-Assets (MiCA) regulation.

In response to these regulatory challenges, Tether is reportedly working on a new technological solution that will be tailored for the European market. This move signals Tether's efforts to adjust to evolving regulatory demands around the globe.

Moreover, Tether is also diversifying beyond its stablecoin operations. The company has ventured into sectors such as telecommunications, artificial intelligence, education, and energy.

Earlier this year, Tether launched four new divisions — Data, Finance, Power, and Education — to drive its vision of future-ready financial systems. These moves have been accompanied by significant investments in these industries.

"Tether has become a symbol of disintermediation, resilience and stability. From Financial tools (stablecoins) to tele-communications (keet), from Artificial Intelligence to unstoppable Education and Energy, we believe in the importance of empowering people, communities, cities and entire countries,” Ardoino stated.

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