Stablecoins are seeing growing adoption among regulators and investors, which may signal that the current bull market is only “mid-cycle” according to some analysts.
Tether, the $143 billion stablecoin giant, was the world’s seventh-largest buyer of United States Treasurys, surpassing some of the world’s largest countries.
Tether, the issuer of USDt (USDT), the world’s largest stablecoin, was the world’s seventh-largest US Treasury buyer, surpassing Canada, Taiwan, Mexico, Norway, Hong Kong, and numerous other countries.
The stablecoin issuer acquired over $33.1 billion worth of Treasurys, compared to over $100 billion purchased by the Cayman Island in the first place in global rankings, according to Paolo Ardoino, the CEO of Tether.
