🚀 Stay Ahead with AltcoinDaily.co! 🌐
Tether, the issuer behind the leading stablecoin USDT, has recently marked a decade of pioneering efforts in cryptocurrency. The digital asset pegged on 1:1 with the US dollar has become one of the most popular digital currencies by market capitalization. It offers a stable store of value and a widely used medium for transactions.
USDT’s Role In Economic Stability
To commemorate its 10th anniversary, Tether released a documentary highlighting its impact on combating inflation in an X post. The film will feature real-world testimonies from people living in countries like Turkey, Brazil, and Argentina.
🎬Today marks 10 years of USD₮ !
To celebrate, we’re launching our documentary ‘Stability and Freedom in Chaos’ soon.
Dive into the journey of how $USDT has become a lifeline for millions, fighting inflation and fueling financial freedom worldwide. 🌎🤝 pic.twitter.com/oviKmIgpgx🌟 Unlock Crypto Insights with AltcoinDaily.co! 💰
— Tether (@Tether_to) October 6, 2024
Sadly, inflation has eroded the purchasing power of local currencies. The documentary showcases how individuals in these regions leverage USDT as a lifeline against economic instability.
In a recent post, Tether CEO Paolo Ardoino reaffirmed the company’s commitment to the underbanked. He emphasized that the firm focuses on empowering those overlooked by mainstream banking.
🦂 AltcoinDaily.co is your trusted source for the latest in crypto news and insights. 🚀
A New Global Currency in Action
The documentary’s trailer reveals powerful stories of how Tether has seamlessly integrated into the daily lives of those in inflation-stricken economies. In Brazil, one interviewee shared that 90% of the daily transactions made by citizens are done using Tether’s USDT stablecoin
The documentary’s preview shows how Tether is helping people in countries with high inflation. This is a real impact, not an exaggeration.
In 2023, Brazil’s USDT adoption surged, accounting for 80% of all crypto transactions. Reportedly, in May, the stablecoin saw its market share rise by almost 20% since the 2021 bull market in Brazil. This comes as crypto trading activity surged in the country. Tether’s USDT has positioned itself as a dominant force in the country’s financial ecosystem.
Tether Over the Past Decade of Innovation
Tether has evolved significantly since its beginning in 2014. Initially, it operated on the OmniLayer platform, which was built on the Bitcoin protocol.
Over the years, the stablecoin evolved to function across various blockchains, including Ethereum, Tron, and The Open Network (TON). This flexibility has played a significant role in USDT’s widespread adoption, particularly in emerging markets where access to stable financial instruments is scarce.
Today, USDT boasts a market capitalization of over $120 billion, solidifying its place as the largest stablecoin and the third-largest cryptocurrency overall. The firm has innovated creative solutions to various global markets, such as Europe, even as it diversifies its investment portfolio beyond the crypto industry.
