Tether's USDT stablecoin has achieved a significant milestone, now serving 500 million users globally, according to CEO Paolo Ardoino. This represents approximately 6.25% of the world's population, based on current estimates. Ardoino announced the achievement on X, highlighting the real-world impact of USDT on financial inclusion worldwide.
The company attributes this growth to strong global demand and increased grassroots adoption, particularly in emerging markets. Tether has focused on expanding digital dollar access in these regions, where USDT is used for remittances and payments in developing countries. By working directly with local communities to integrate USDT into payment and remittance systems, Tether has positioned the stablecoin as a practical tool for everyday financial transactions. These initiatives have expanded digital dollar access to populations that might otherwise be excluded from global financial systems.
USDT has gained popularity in markets with unstable local currencies and limited banking access. For many users in emerging economies, USDT provides stability and convenience compared to local currencies, offering an alternative to traditional wire transfers that can be costly and slow. As Ardoino stated, "USDT proves that stablecoins can drive real-world financial inclusion".
Tether's USDT supply is approximately $182 billion, holding over 60% of the stablecoin market share, more than double that of its competitor Circle's USDC, which has approximately $75 billion in circulation. Tether remains one of the largest holders of U.S. government debt globally. As of its Q2 2024 attestation, Tether had direct and indirect exposure to over $97 billion in U.S. Treasuries.
In addition to its focus on emerging markets, Tether is also planning to launch a new U.S. dollar-backed stablecoin called USAT for the American market. Tether is seeking to raise between $15 billion and $20 billion from private investors in exchange for approximately a 3% stake in the company, potentially valuing the company at over $500 billion.
Tether has faced scrutiny regarding the transparency and verifiability of its claimed fiat reserves. However, the company has taken steps to address these concerns, including releasing quarterly attestations signed by BDO Italia and collaborating with law enforcement agencies. Tether has assisted over 180 law enforcement agencies and recovered over $1.8 billion linked to illicit activities. In El Salvador, Tether recently released a financial attestation under regulatory supervision, highlighting its commitment to compliant operations while promoting USDT globally.
The U.S. GENIUS Act requires stablecoins, such as USDT, to undergo annual audits and be fully backed by liquid assets. CEO Paolo Ardoino has expressed openness to creating a domestic stablecoin in the U.S., stating, "We are going to watch the bill for the requirements of the U.S. domestic stablecoins and we would be open to create a domestic stablecoin in the U.S.".
Tether reported a record net profit of $4.9 billion in the second quarter of 2025. The company's financial strength continues to attract global attention amid increasing regulatory scrutiny.
