The chief executive of stablecoin issuer Tether says that it is now one of the largest holders of US Treasuries in the world, noting that stablecoins will grant hundreds of millions of people access to the US dollar.
In a new interview with CNBC Television, Tether CEO Paolo Ardoino says that if the firm were a nation of its own, it would be the 18th-largest holder of US Treasuries in the world.
“Well, Tether in 2024 was the fifth-largest purchaser of US treasuries. And if we were a country, right, I mean, we compare ourselves to countries now, and as an overall statistic, Tether is the 18th-largest holder of US treasuries.
We have around $125 billion in US treasuries. We are acquiring, that portion of our reserve is increasing… We think the trajectory is also in line with the GENIUS Act so we are very excited to see a stablecoin bill that provides clear guidance.”
US Treasuries are debt obligations backed by the US Department of the Treasury that vary in maturation dates and pay interest every six months. They are considered low-risk investments due to being backed by the government.
Ardoino goes on to note that the US dollar is still the safest currency in the world, adding that USDT will bring over 400 million people access to it.
“By far, the US dollar is the safest fiat currency in the world… Between Bitcoin and stablecoins, they will make America stronger, and I think that is the main point of the [current] Administration. With stablecoins, we are bringing the US dollar to 420 million people around emerging markets.”
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