Tether hits 500 million users as stablecoin supply nears $182 billion

Tether, the leading issuer of USD-pegged stablecoins, announced that its user base has officially surpassed 500 million, which CEO Paolo Ardoino hailed as potentially the largest financial inclusion achievement in history. Concurrently, the total supply of its USDT stablecoin is nearing $182 billion, significantly outpacing the second-largest issuer, Circle's USDC, which has about $75 billion in circulation. Ardoino described programmable money as the "ultimate social network." Furthermore, recent reports indicate that Tether is in discussions with investors to potentially raise up to $20 billion at a valuation of around $500 billion, which would position it among the world's most valuable private companies. Tether is also preparing to launch USAT, a dollar-backed stablecoin specifically for U.S. users, motivated by evolving U.S. regulatory frameworks for stablecoins.

(Source：The Block)