- Tether’s 10th anniversary documentary highlights USDT’s role in stabilizing finances in regions like Turkey, Brazil, and Argentina
- USDT emerges as a primary financial instrument in unstable economies, leading trade volumes in markets such as Turkey and Brazil.
Since its launch in 2014, USDT has played an instrumental role in promoting financial stability within unstable economic environments. This has catalyzed the adoption of stablecoins across Africa and other inflation-prone regions. In Turkey, USDT has emerged as a haven against the depreciation of the Turkish Lira. In 2024 alone, the USDT-TRY trading pair saw a remarkable trading volume exceeding 22 billion USD, making it the most traded pair on the Binance cryptocurrency exchange.
The adoption of USDT in Brazil has seen explosive growth, accounting for 90% of the country’s daily cryptocurrency transactions. Brazilians use USDT not only for routine transactions but also as a strategy to maintain purchasing power amidst ongoing inflation.
In Argentina, where inflation and currency devaluation are chronic issues, USDT has become an essential financial tool. Many Argentinians convert their salaries directly into USDT to avert the devaluation of their national currency. This practice has become a common strategy to preserve their purchasing power in a fluctuating economic landscape.
The documentary features interviews with users from these countries, illustrating how USDT has contributed to combating inflation and bringing some measure of financial stability. Paolo Ardoino, CEO of Tether, highlighted the company’s commitment to providing inclusive financial solutions for underserved populations. He stated,
“Our focus has always been on the last mile (and will continue to be). The wealthy already have numerous options to manage and store their wealth. We develop financial technology for those left behind.”