Tether’s USDT Stablecoin Reaches 500 Million Users

Tether has announced its USDT stablecoin has achieved a milestone of 500 million users, a feat described by CEO Paolo Ardoino as potentially the largest financial inclusion achievement in history. This significant number equates to approximately 6.25% of the global population, highlighting a means of financial access for those traditionally excluded from banking. Ardoino noted that USDT caters to real individuals rather than just wallets. With 1.4 billion adults lacking bank account access worldwide, Tether positions cryptocurrency as a viable alternative for financial transactions and savings. Particularly, small businesses in countries like Kenya have turned to USDT in response to currency devaluation, leveraging crypto to facilitate imports and sustain operations. Tether, dominating the market with a 58.4% share and a market cap of $172.02B, could be worth half a trillion in future funding rounds as investors show interest in its growth. Tether's documentary on its use in Kenya emphasizes how the stablecoin aids users not for speculation but for vital financial needs.

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