Tether CEO Paolo Ardoino shared on X that the company aims to enhance financial inclusion for people who have been “left behind.”
To celebrate its 10th anniversary, Tether revealed it will release a documentary about USDT and its role in helping people combat inflation.
The documentary’s trailer features interviews with users in countries facing high inflation, such as Turkey, Brazil, and Argentina. These individuals discuss how the stablecoin has been beneficial in their efforts to manage rising prices.
The teaser aims to showcase USDT as a tool comparable to the US dollar. One Brazilian interviewee noted that “Tether with USDT accounts for about 90% of the transactions happening in Brazil daily.”
In 2023, the use of USDT in Brazil surged, making up 80% of the country’s crypto transactions.
Celebrating a Decade of Tether
Tether’s first tokens launched on October 6, 2014. The project was co-founded by entrepreneur Brock Pierce, Reeve Collins, and software engineer Craig Sellars, initially operating under the name Realcoin before rebranding to Tether.
The main idea behind Tether is to create a token that represents fiat currencies at a 1:1 ratio, allowing users to transfer assets globally using blockchain technology.
Originally, USDT was built on the OmniLayer platform, which operates on the Bitcoin protocol. Since then, it has expanded to various blockchains, including Ethereum, Tron, and The Open Network.
With a market capitalization of $120 billion, USDT is the largest stablecoin by market cap and ranks as the third-largest cryptocurrency overall, following Bitcoin and Ether.
Summary Review: Tether is marking its 10th anniversary with the announcement of a documentary highlighting USDT’s role in helping individuals cope with inflation in countries like Turkey, Brazil, and Argentina. The documentary aims to demonstrate how USDT serves as a vital financial tool, akin to the US dollar, particularly in regions facing economic challenges. Launched in 2014, Tether has grown to become the largest stablecoin, facilitating global transactions through blockchain technology, with a market cap of $120 billion, making it the third-largest cryptocurrency overall.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
