Tether’s $5.7B Profit Is Just the Beginning—Get Ready for a U.S. Stablecoin Shakeup That Could Rewrite the Rules This Q4!
Tether’s popular USDT offering has a completely different model from the new venture. It’s focused on the ‘inefficient’ emerging markets for users seeking faster USD rails and hedging against local currency devaluations and inflation.
As a result, Tether pockets all the interest earned from the treasury reserves backing USDT. That may not be the case for the upcoming venture.
Meanwhile, the USDT market cap has hit a record high of $163.6 billion. This helped it to keep a $100B lead over the second-largest stablecoin, USDC, which had a $64 billion market size.
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