Tether Rises as 22nd Largest Global US Treasury Bond Holder
- Project Sela, a CBDC venture, combines private sector agility with central bank oversight.
- The introduction of “Access Enablers” promises heightened competition and reinforced security.
Tether, the stablecoin, holds $72.5 billion in US Treasury bonds. This impressive portfolio puts Tether ahead of the UAE, Mexico, Australia, and Spain in treasury holdings. The crypto giant’s rise to 22nd among global Treasury bond holders signals a financial and cryptocurrency paradigm shift.
China Reduces US Treasury Grip; Tether Intensifies Its Hold
Wall Street Silver, a prominent investment community, reported that China’s hold on US Treasury bonds has dropped $481 billion. This decrease brings China’s US Treasury ownership to its lowest level in over a decade. Despite longstanding speculation that China would maintain its US Treasury debt due to its internal economic and currency ramifications, the nation appears to be diversifying its assets, buying gold. In response to this changing global financial landscape, Tether’s CTO, Paolo Ardoino, announced $72.5 billion in US Treasury bill exposure.
The Global Stablecoin Powerhouse
With its impressive Treasury holdings, Tether has not just outstripped several nations but has also reaffirmed its dominance in the stablecoin market. According to Ardoino, USDT (Tether’s stablecoin) has garnered immense popularity, particularly in budding markets. In these regions, USDT serves as a pivotal financial tool, shielding individuals from abrupt inflationary impacts on their native currencies. This highlights it’s integral role in safeguarding economic interests globally.
In a parallel development, Circle, another significant player in the digital currency realm, reported holdings surpassing $8.389 billion in US Treasury bonds as of July’s end. Currently, Tether’s daily trading activity showcases a robust 8.63% uptick within a span of 24 hours, as stated by CoinMarketCap.
