Tether, the company behind the US dollar-linked stablecoin USDT
$1.00
, has announced that its user base has reached 500 million individuals worldwide.
According to the company, this number reflects actual people rather than just digital wallets, which would mean around 6.25% of the global population has interacted with the stablecoin.
Paolo Ardoino, CEO of Tether, described the achievement on X as a significant step forward in expanding global financial access.
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To celebrate this milestone, Tether released a documentary that focused on the use of its stablecoin in Kenya. In the video, people share how they rely on USDT not as an investment, but to manage daily financial needs.
For small businesses facing currency devaluation, using digital dollars has helped them continue paying for imported goods and keep their operations going.
Tether also shared that over a third of USDT users, about 37%, mainly use it as a way to store value, rather than to make regular transactions.
An estimated 1.4 billion adults around the world still live without access to banking services, according to data from the World Bank.
For many in this group, owning a mobile phone and using a digital wallet could serve as a practical alternative to a bank account. This is especially relevant in regions where local currencies are unstable.
On October 16, Tether announced its plans to take a more active role in Juventus. What did the company say? Read the full story.
