Tether has emerged as one of the largest holders of US Treasuries, surpassing several major economies. This milestone highlights its growing influence in the stablecoin market and global financial system.
Tether CEO Paolo Ardoino claimed the company now has over $33.1 billion in U.S. Treasury securities. This means it is better than several countries in terms of Treasury investments. The Cayman Islands, ranked number one, holds over $100 billion in Treasuries.
The firm is buying more Treasuries and has increased its buying of Treasuries to back USDT with liquid, safe stuff.
During this period of Tether’s expansion, stablecoins are getting accepted by both more and more investors and regulators. The total amount of stablecoin in circulation is now over $219 billion, showing great demand for dollar-pegged coins. Experts believe the growth of the market means the current crypto bull run is either not near its peak or still underway.
Designing regulations for stablecoins is gaining a lot of traction. Lawmakers in the U.S. are working on legislation to create a formal framework for stablecoins, with key figures expecting a bill to be passed by August. Kristin Smith, who is the CEO of the Blockchain Association, said that Congress would create a bipartisan agreement. In addition, they would work with the White House.
As digital assets become more integrated in the mainstream financial markets, Tether is making a big impact in the U.S. The Treasury market demonstrates the interconnection between crypto and traditional finance.
