Tether’s US treasury holdings surpass Canada, Taiwan, ranks 7th globally
Stablecoins are seeing growing adoption among regulators and investors, which may signal that the current bull market is only “mid-cycle,” according to some analysts.
Tether, the $143-billion stablecoin giant, was the world’s seventh-largest buyer of US Treasurys, surpassing some of the world’s largest countries.
Tether, the issuer of USDt (USDT), the world’s largest stablecoin, was the world’s seventh-largest US Treasury buyer, surpassing Canada, Taiwan, Mexico, Norway, Hong Kong and numerous other countries.
The stablecoin issuer acquired over $33.1 billion worth of Treasurys, compared to over $100 billion purchased by the Cayman Islands in the first place in global rankings, according to Paolo Ardoino, CEO of Tether.
