According to Odaily, Tether's CEO, Paolo Ardoino, has stated that USDT is providing access to the US dollar for millions of people living in developing countries. These individuals are in need of an alternative to their local currencies, which are rapidly depreciating.
Tether has been consistently investing its stablecoin reserves in US Treasury bonds and has now become one of the top three short-term US debt holders globally. This move is seen as a strategic approach to ensure the stability of the USDT, which is pegged to the US dollar.
The use of USDT in developing countries is seen as a significant development, providing a stable and reliable alternative to local currencies that are subject to high inflation rates and economic instability. This development is particularly important for individuals and businesses that are seeking to protect their assets and maintain their purchasing power in the face of economic uncertainty.
