Tether, the issuer of the world’s largest stablecoin, USDT, commemorates its 10th anniversary with a new documentary titled Stability and Freedom in Chaos.
The film showcases how USDT has grown from a niche digital currency to a crucial financial tool, empowering millions across the globe by providing an alternative to traditional currencies, particularly in countries facing high inflation and economic instability.
Launched on October 6, 2014, by Brock Pierce, Reeve Collins, and Craig Sellars, Tether initially aimed to bridge digital and traditional finance by issuing tokens backed on a 1:1 basis with fiat currency. Originally named Realcoin, the project rebranded as Tether, or USDT, and was first issued on the Bitcoin blockchain via the OmniLayer protocol. Over the years, USDT expanded to other blockchains, including Ethereum, Tron, and The Open Network, increasing its reach and adaptability.
Today, Tether’s USDT stands as the third-largest cryptocurrency, with a market cap of $120 billion, trailing only Bitcoin and Ethereum. Its resilience and versatility have made it an essential asset in the crypto space, catering to both institutional and retail users looking for stability amidst volatile markets.
In the documentary’s trailer, users from countries like Turkey, Brazil, and Argentina describe how USDT has transformed their financial lives. Tether has emerged as a lifeline in these regions, where inflation is rampant, and local currencies are often devalued. In fact, a recent Kaiko report highlights Turkey’s increased reliance on USDT, driven by high inflation. In 2024, USDT-TRY became one of the most traded pairs on Binance, with a volume exceeding $22 billion.
Brazil has also seen substantial USDT adoption, accounting for approximately 80% of crypto transactions in 2023, worth nearly $54 billion. For many Brazilians, USDT is a stable alternative used in everyday transactions. In Argentina, USDT has gained popularity as a safeguard against inflation, allowing users to convert their earnings into a stable digital currency.
Speaking about the company’s 10-year journey, Paolo Ardoino, Tether’s CEO, emphasized the importance of financial inclusivity, particularly for those underserved by traditional banking systems. He reaffirmed Tether’s mission to provide tools that empower individuals to transact and store wealth securely. “Rich people already have tens of ways to transact and store wealth. We build financial tech for the people left behind,” Ardoino stated.
Besides its focus on empowering individuals, Tether has been actively working with law enforcement to combat cryptocurrency-related crimes. On September 27, the company assisted the U.S. Department of Justice in seizing over $6 million linked to a Southeast Asian scam. This is part of a larger initiative in which Tether has cooperated with over 180 law enforcement agencies worldwide, freezing more than $1.8 billion in illicit USDT and redistributing over $128 million to rightful owners.
As Tether looks ahead, its commitment to stability, security, and innovation remains steadfast. The company plans to continue expanding the reach of USDT, enhancing its role in global finance, and empowering users worldwide through technological advancements.
Stability and Freedom in Chaos highlights Tether’s impact over the last decade, showcasing USDT’s role as a stable, accessible currency that has the potential to reshape traditional finance and bring financial freedom to those who need it most.
Tether’s journey shows the growing influence of stablecoins in global finance. With a focus on resilience and inclusivity, Tether’s USDT will most likely continue supporting individuals and businesses worldwide, providing stability in an ever-changing economic landscape.
