The Wall Street Journal reported this week that the demand for U.S. Treasuries has been supported by the USD-backed stablecoin, helping to avoid a debt crisis in the United States. In response to this report, Tether CEO Paolo Ardoino posted on X, stating that over 300 million people worldwide use USDT as a digital dollar, providing a crucial tool for the entire community in developing countries. These communities lack adequate banking services, with many still unbanked, and face issues of high inflation and rapid depreciation of their local currencies.
Furthermore, Paolo Ardoino added that by bringing the stability of the dollar into emerging markets, Tether has become one of the top three global buyers of short-term U.S. Treasuries (typically with a maturity of less than one year). Additionally, it ranks in the top 20 among all global buyers of various types of U.S. Treasuries.
