After a decade of bulls and bears, Tether has emerged as one of the leading players in the cryptocurrency industry. The world’s largest stablecoin issuer today marked its 10th anniversary with the release of “Stability and Freedom in Chaos,” a documentary about USDT and its role in combating inflation.
The documentary trailer features interviews with users in inflation-stricken countries such as Turkey, Brazil, and Argentina, where stablecoin adoption has surged in recent years. With a market capitalization of $120 billion, USDT is the largest stablecoin and the third largest crypto asset after Bitcoin and Ethereum.
Caico’s April report found that inflationary pressures in Turkey have been a driving force behind the increased use of stablecoins over the past year. In 2024, over $22 billion was traded on Binance, making USDT-TRY the most popular trading pair.
In Brazil, USDT accounted for 80% of the total cryptocurrency trading volume in 2023, amounting to approximately $54 billion. Chainaosis reported that Brazilians use USDT for daily transactions due to its stability.
In Argentina, demand for USDT is further increasing, mainly due to the ongoing currency devaluation and high inflation rate. Many Argentines exchange their salaries directly into USDT or similar stablecoins as a hedge against inflation.
Launched on October 6, 2014 by Brock Pierce, Reeve Collins, and Craig Sellers, Tether initially operated on the Bitcoin protocol’s OmniLayer platform. It has since expanded to multiple blockchains including Ethereum and Tron.
Tether now enters the next decade with a core mission of continuing to empower individuals, communities, and nations through technology and financial tools.
“Our focus has been (and will continue to be) on the last mile. Wealthy people already have dozens of ways to trade and store their wealth,” said Paolo Ardoino, CEO of Tether. We’re building financial technology for people who are left behind.”
“From financial tools (stablecoins) to communications, from artificial intelligence to unstoppable education and energy, we believe in empowering people, communities, cities and entire countries.” Ardoino said.
