- USDT dominates Brazil’s crypto market with 80% of all transactions in 2023, totaling $54 billion.
- Tether’s market cap hits $120 billion, maintaining its status as the largest stablecoin globally.
- In 2024, USDT-Turkish Lira trades on Binance surpassed $22 billion due to Turkey’s inflation crisis.
Tether announced that it will release “Stability and Freedom in Chaos,” a documentary that showcases the effects of USDT stablecoin in the fight against global inflation as it celebrates its 10th anniversary.
The trailer features interviews with individuals in Brazil, Turkey, and Argentina, where inflation rates have risen, and how they have turned to USDT as an alternative currency. The documentary aims to explore how Tether has impacted financial markets in these regions.
USDT, with a market capitalization of $120 billion, is the world’s largest stablecoin and third largest cryptocurrency, following Bitcoin and Ethereum.The film aims to show how traders have used USDT as a financial refuge in financially turbulent terrains.
USDT Adoption in Countries Affected by Inflation
The increasing adoption of USDT in countries facing severe inflation has been significant. In Brazil, for instance, USDT transactions constituted 80% of all cryptocurrency dealings in 2023, summing up to about $54 billion. This surge is attributed to the stablecoin’s ability to maintain value stability, making it a preferred medium for daily transactions and savings amid local currency volatility.
Similarly, in Argentina, the demand for USDT has seen a sharp increase as residents turn to stablecoins to preserve their purchasing power against relentless inflation and currency devaluation. Many Argentinians now convert their earnings into USDT as a protective measure. This trend is echoed in Turkey, where the trading volume between USDT and the Turkish Lira reached over $22 billion on Binance in 2024, driven by ongoing economic pressures.
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Tether’s Vision
Looking forward, Tether aims to extend its influence and utility over the next decade by continuing to support those in less economically developed regions. Paolo Ardoino, Tether’s CEO, emphasized the company’s commitment to providing technological and financial tools that offer an alternative to traditional banking systems, which often overlook the low-income segment.
Tether’s initiative goes beyond financial tools; it includes efforts in telecommunications, artificial intelligence, education, and sustainable energy solutions, aiming to empower not just individuals but entire communities and nations. As Ardoino puts it, Tether is dedicated to the “last mile” — focusing on the needs of those who are most financially disenfranchised.
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