Tuesday, October 8, 2024 ▪ 3 min read ▪ by Eddy S.
On October 6, 2024, Tether, the publisher of the USDT stablecoin, celebrates its 10th anniversary with the release of a documentary titled “Stability and Freedom in Chaos.” The film highlights the significant impact of USDT in countries such as Türkiye, Brazil, and Argentina. In these countries, inflation is rampant and citizens are looking for alternatives to cryptocurrencies to protect their wealth.
Stability and freedom in the midst of chaos: Tether (USDT)’s mission is already 10 years old!
Since its founding in 2014, USDT has played a key role in providing financial stability in volatile economic environments and has facilitated the adoption of stablecoins, particularly in Africa. In Turkey, for example, the USDT provides a haven against the devaluation of the Turkish lira. In 2024, the USDT-TRY trading pair was the most popular on the Binance cryptocurrency exchange, with over $22 billion traded.
USDT has also exploded in popularity in Brazil, accounting for 90% of daily cryptocurrency transactions in the country. Brazilians use USDT not only for day-to-day transactions, but also as a way to maintain purchasing power in the face of continued inflation.
In Argentina, where inflation and currency devaluation are chronic problems, USDT has become an essential tool for many citizens. Many Argentines convert their salaries directly into USDT crypto to avoid losing the value of their national currency. This practice has become a popular strategy for preserving purchasing power during uncertain economic times.
Building cryptography for marginalized people
Tether’s documentary features interviews with users in these countries and shows how USDT has combated inflation and brought financial stability. Tether CEO Paolo Ardoino emphasized the company’s commitment to providing comprehensive financial solutions to underserved populations. He said:
“Our goal has always been (and always will be) the last mile. The wealthy already have dozens of ways to transact and store their wealth. We’re building technology.”
Finally, Tether’s 10th anniversary and the release of this documentary marks an important milestone in USDT’s history. By providing financial stability in volatile economies, USDT continues to play an important role in the lives of millions of crypto users around the world.
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Eddie S.
Adapt to society and live a safe life to survive in universities around the world. Community managers manage the underlying cryptocurrencies and work on blockchain and its development. Passionately consider experience and fair management in the domain, article information and how to terminate the contract.
Disclaimer
The views, ideas and opinions expressed in this article are solely those of the author and should not be construed as investment advice. Please do your own research before making any investment decisions.
