Stablecoin

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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. 
<h2 id="b-usdt-s-role-in-economic-stability-b">USDT’s Role In Economic Stability</h2> 
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.&nbsp; 
<blockquote class="twitter-tweet"> 
 🎬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 <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDT</a> has become a lifeline for millions, fighting inflation and fueling financial freedom worldwide. 🌎🤝 <a href="https://t.co/oviKmIgpgx">pic.twitter.com/oviKmIgpgx</a> 
 — Tether (@Tether_to) <a href="https://twitter.com/Tether_to/status/1842878554972803424?ref_src=twsrc%5Etfw">October 6, 2024</a>
</blockquote> 
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. 
<h2 id="b-a-new-global-currency-in-action-b">A New Global Currency in Action</h2> 
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&nbsp; 
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, <a href="https://thecoinrise.com/brazil-crypto-trading-surges-stablecoins-gain-traction/">the stablecoin saw its market share rise by almost 20%</a> 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. 
<h2 id="b-tether-over-the-past-decade-of-innovation-b">Tether Over the Past Decade of Innovation</h2> 
Tether has evolved significantly since its beginning in 2014. Initially, it operated on the OmniLayer platform, which was built on the Bitcoin protocol.&nbsp; 
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, <a href="https://thecoinrise.com/tether-reserves-tops-118-billion-amid-renewed-commitment-to-compliance/">USDT boasts a market capitalization of over $120 billion</a>, 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 <a href="https://thecoinrise.com/tether-to-create-new-solution-for-the-european-market/">Europe</a>, even as it <a href="https://thecoinrise.com/tether-diversifies-investment-portfolio-with-100m-with-adecoagro-bet/">diversifies its investment portfolio beyond the crypto industry.</a> 
The post <a href="https://thecoinrise.com/tether-to-commemorate-10th-anniversary-with-usdt-documentary/">Tether to Commemorate 10th Anniversary With USDT Documentary</a> appeared first on <a href="https://thecoinrise.com/">TheCoinrise.com</a>.

Tether to Commemorate 10th Anniversary With USDT Documentary

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