On its 10th anniversary, Tether, the issuer of the USDT stablecoin, announced the release of a documentary highlighting the role of USDT in combating inflation.
The trailer features interviews with users from countries like Argentina, Turkey, and Brazil, showcasing how they have utilized the stablecoin to navigate high inflation rates.
Notably, the teaser emphasizes that USDT accounts for 90% of Brazil’s daily transactions, with 80% of the country’s cryptocurrency transactions in 2023 being USDT-based.
Tether was originally launched as Realcoin in 2014 by Craig Sellars, Reeve Collins, and Brock Pierce, and it has since evolved into the largest stablecoin in the market, boasting a market capitalization of $120 billion. USDT was initially built on the OmniLayer platform using the Bitcoin protocol but has since expanded to other networks like Ethereum and Tron.
Tether’s CEO, Paolo Ardoino, highlighted the company’s mission to provide stability and empowerment to individuals and nations, reinforcing USDT’s position as a significant player in the crypto landscape, ranking as the third most valuable cryptocurrency after Bitcoin and Ether. The documentary aims to illustrate further the impact of USDT in various economies, particularly in regions facing economic challenges.
