USDT Stablecoin Developer, Tether, Celebrates 10th Birthday

USDT stablecoin publisher Tether has just celebrated its 10-year journey in the crypto industry. This marks a decade of success with its flagship stablecoin, USDT. In its celebration, Tether highlighted the important role of this stablecoin as a crucial financial tool for millions of users around the world, especially in countries facing high inflation challenges.

To commemorate this historic milestone, Tether launched a documentary highlighting the positive impact of USDT on countries like Argentina and Brazil, where high inflation encourages people to look for alternatives to their local currency. USDT, according to Tether, has become an important solution in financial inclusion, helping people in areas with difficulty accessing traditional banking services.

Tether Celebrates 10 Years of Global Adoption and Stablecoin Dominance with Over 350 Million Users Worldwidehttps://t.co/FDwdUZf6BZ

— Tether (@Tether_to) October 7, 2024

Tether Celebrates 10 Years of Global Adoption and Stablecoin Dominance with Over 350 Million Users Worldwidehttps://t.co/FDwdUZf6BZ

Tether CEO Paolo Ardoino explained that the company's main mission is to provide financial access to communities that have been neglected by conventional financial systems. According to Ardoino, although rich people have many options to manage their assets, Tether's technology is specifically designed for those who "ditmen." In its 10 years of travel, USDT has grown to the third largest cryptocurrency in the world by market cap, just behind Bitcoin and Ethereum.

Based on data from DeFillama, USDT's current market cap has reached nearly $120 million, with a market share of 69% in the global stablecoin market. However, Tether has not escaped the challenge, particularly in relation to regulatory oversight. Several exchanges in Europe are considering stopping USDT trading due to concerns over compliance with the newly implemented MiCA regulation. In response, Tether is currently developing a solution to meet the increasingly stringent regulatory requirements in Europe.

In addition to focusing on stablecoin operations, Tether is also expanding its business to new sectors such as telecommunications, artificial intelligence, education, and energy. The company introduces four new divisions, namely Data, Finance, Power, and Education, to support their vision of creating a more innovative financial system.

Ardoino emphasized that Tether will continue to be a symbol of resilience and stability, and is committed to empowering the community through broader technological solutions beyond stablecoins.