Tether CEO: The issuance of USDT has reached 107.3 billion, becoming the mainstream digital dollar in many emerging markets

ChainCatcher news, Tether CEO Paolo Ardoino stated on social media that the current issuance of USDT has reached 107.3 billion, making it the most commonly used digital dollar in many emerging markets. Hundreds of millions of people living in countries with rapidly depreciating local currencies use it as a checking account and savings account. Most people in this group do not have bank accounts because they are too poor to attract the interest of the banking industry. This is the real-world use case for stablecoins.

He mentioned that the wealthy use stablecoins in complex ways to purchase a bunch of securities, which is completely on a different level from the aforementioned use case. In this scenario, USDT is merely a toy for the rich, who can easily send wire transfers from one of their 15 bank accounts or show off to their friends how cool they are before the next golf tournament.