Tether CEO: Tether is a major buyer of U.S. Treasury bonds, with over 300 million people worldwide using USDT

ChainCatcher news, according to Be In Crypto, Tether CEO Paolo Ardoino recently emphasized the important role of USDT in driving demand for the dollar in emerging markets.

Ardoino revealed that over 300 million people globally use USDT as a digital dollar, providing essential financial services to communities in developing countries. This stablecoin enhances the efficiency of fund transfers and storage, bypassing the traditional financial system that often excludes the underbanked. This means that if Tether's USDT usage were equivalent to a country, its economic scale would surpass that of nations like Indonesia, Pakistan, and Nigeria. Therefore, the high acceptance of USDT has a significant impact on the global financial system.

Ardoino pointed out that Tether is one of the top three purchasers of short-term U.S. Treasury securities globally and ranks among the top twenty buyers overall. This reflects Tether's growing influence in the financial sector and the increasing integration of virtual assets with the traditional financial system. Ardoino's comments were in response to an article that noted that dollar-backed stablecoins have fueled demand for U.S. public debt.