TL;DR
- Tether releases a documentary for its 10th anniversary, highlighting USDT’s role in combating inflation.
- In Brazil, USDT represents 80% of cryptocurrency transactions and 90% of daily transactions in some areas.
- USDT is the largest stablecoin with a $120 billion market capitalization and the third-largest cryptocurrency globally.
Tether has announced the release of a documentary commemorating its 10th anniversary, addressing the crucial role its stablecoin, USDT, has played in fighting inflation across various economies worldwide.
The documentary includes testimonials from users in countries like Turkey, Brazil, and Argentina, where inflation has had a significant impact on daily life. These users explain how they have turned to USDT to protect their finances against the volatility of their local currencies, making the stablecoin a fundamental tool in maintaining the value of their money.
🎬Today marks 10 years of USD₮ !
To celebrate, we’re launching our documentary ‘Stability and Freedom in Chaos’ soon.
Dive into the journey of how $USDT has become a lifeline for millions, fighting inflation and fueling financial freedom worldwide. 🌎🤝 pic.twitter.com/oviKmIgpgx— Tether (@Tether_to) October 6, 2024
In the case of Brazil, the growing use of USDT in the local market is highlighted, where the stablecoin has reached a high level of adoption. In 2023, it represented 80% of all cryptocurrency transactions in the country. A Brazilian user even mentions that Tether’s stablecoin already accounts for 90% of daily transactions in certain areas.
Tether: A Shelter Against Inflation
Since its creation on October 6, 2014, Tether has steadily evolved and dominated the market. Initially launched under the name Realcoin by Brock Pierce, Reeve Collins, and Craig Sellars, the company aimed to offer a stable digital asset linked to fiat currencies, allowing fast and secure transactions through blockchain technology.
Currently, USDT has solidified its position as the largest stablecoin in the market, with a $120 billion market capitalization. This astronomical value positions it as the third-largest cryptocurrency globally, behind Bitcoin and Ethereum. Paolo Ardoino, Tether’s CEO, has stated that the company seeks to provide financial stability to communities and individuals lacking proper access to traditional banking services, offering an option for those “left behind” in the global economy.
The documentary seeks to emphasize how USDT has allowed many people in high-inflation countries to preserve the value of their money and avoid the constant devaluation of their local currencies. Tether has become a financial empowerment tool, offering accessible solutions to individuals and communities facing economic hardships.