Tether CEO revealed on Tuesday that USDT has reached 500 million users, marking its upward trajectory since its launch in 2020. He believes that the milestone is a testament to the real-world impact of USDT on global financial inclusion. Tether has been making efforts to expand digital dollar access in emerging markets, where USDT helps in remittances and payments in developing countries. The stablecoin issuer has also maintained efforts for USDT grassroots adoption, engaging with communities to integrate the stablecoin into everyday financial activities. Tether plans to launch another dollar-backed stablecoin Bloomberg reported last month that Tether is planning to raise approximately $20 billion at a valuation of around $500 billion, representing about 3% of the company. The initiative would make the stablecoin issuer one of the most valuable private companies globally, alongside high-tech companies like OpenAI and SpaceX. On-chain data revealed that USDT’s stablecoin supply is at around $182 billion. Circle’s USDC follows with about $75 billion of stablecoin in circulation. “Programmable money is the ultimate social network. A peer-to-peer construct that transports both information and value.” –Paolo Ardoino, Founder and CEO of Tether. Cryptopolitan previously reported that Tether, based in El Salvador, plans to launch a dollar-backed stablecoin, USAT, designed for the U.S. market. Bo Hines, CEO of Tether’s newly-established U.S. arm, mentioned at a conference in Seoul that the company doesn’t plan to raise money for the initiative. Instead, the transaction would include new equity rather than existing investors selling their shares to raise capital.  The El Salvador-based firm has faced scrutiny for not providing a full independent audit on its stablecoin balance sheet, but has released quarterly attestations signed by BDO Italia. Ardoino hinted that obtaining a review from the top audit firms, including Deloitte, EY, PwC, or KPMG, is a top priority for the company. Tether also reported a record quarterly net profit of $4.9 billion in Q2, surpassing its previous net profit record of $4.52 billion set during the first quarter of 2024. The stablecoin issuer maintained that it’s among the largest holders of U.S. government debt globally, and its milestone also followed the U.S.’s decisive steps to establish stablecoin rules through the introduction of the GENIUS Act. Stablecoin legislation expands USDT’s presence Ardoino was present as U.S. President Donald Trump was signing the stablecoin legislation, which creates a federal regulatory framework for fiat-pegged tokens. The bill requires stablecoins to be fully backed by U.S. dollars or similarly liquid assets, and it also mandates annual audits for issuers with a market capitalization exceeding $50 billion. The new stablecoin legislation has led more traditional banks to start planning the launch of their own dollar-backed digital assets. Financial institutions co-owned by JPMorgan, Bank of America, Citigroup, and Wells Fargo are among the top traditional banks threatening Tether’s dominance in the stablecoin market. Ardonio told Bloomberg that those competitors might surpass Tether in the short term in the U.S., but he believes that the USDT issuer has better technology. He argued that Tether has a much better understanding of the stablecoin market than any other company. Tether’s CEO also maintained that the firm does not plan to go public like its competitor, Circle. Tether has had a different trajectory in Europe after the implementation of the European Union’s Markets in Crypto-Assets (MiCA) regulation. The regulation instructed exchanges across the region to stop offering stablecoins that are not compliant with the new rules by April 2025. The rules affected Tether’s USDT since it doesn’t meet MiCA’s regulatory requirements. The European Securities and Markets Authority (ESMA) allowed stablecoin issuers to use their digital assets for a limited period until March 2025. The initiative led to major exchanges removing USDT pairs, causing its market share to drop from 70% in November 2024 to nearly 60% by October 2025. Want your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.Tether CEO revealed on Tuesday that USDT has reached 500 million users, marking its upward trajectory since its launch in 2020. He believes that the milestone is a testament to the real-world impact of USDT on global financial inclusion. Tether has been making efforts to expand digital dollar access in emerging markets, where USDT helps in remittances and payments in developing countries. The stablecoin issuer has also maintained efforts for USDT grassroots adoption, engaging with communities to integrate the stablecoin into everyday financial activities. Tether plans to launch another dollar-backed stablecoin Bloomberg reported last month that Tether is planning to raise approximately $20 billion at a valuation of around $500 billion, representing about 3% of the company. The initiative would make the stablecoin issuer one of the most valuable private companies globally, alongside high-tech companies like OpenAI and SpaceX. On-chain data revealed that USDT’s stablecoin supply is at around $182 billion. Circle’s USDC follows with about $75 billion of stablecoin in circulation. “Programmable money is the ultimate social network. A peer-to-peer construct that transports both information and value.” –Paolo Ardoino, Founder and CEO of Tether. Cryptopolitan previously reported that Tether, based in El Salvador, plans to launch a dollar-backed stablecoin, USAT, designed for the U.S. market. Bo Hines, CEO of Tether’s newly-established U.S. arm, mentioned at a conference in Seoul that the company doesn’t plan to raise money for the initiative. Instead, the transaction would include new equity rather than existing investors selling their shares to raise capital.  The El Salvador-based firm has faced scrutiny for not providing a full independent audit on its stablecoin balance sheet, but has released quarterly attestations signed by BDO Italia. Ardoino hinted that obtaining a review from the top audit firms, including Deloitte, EY, PwC, or KPMG, is a top priority for the company. Tether also reported a record quarterly net profit of $4.9 billion in Q2, surpassing its previous net profit record of $4.52 billion set during the first quarter of 2024. The stablecoin issuer maintained that it’s among the largest holders of U.S. government debt globally, and its milestone also followed the U.S.’s decisive steps to establish stablecoin rules through the introduction of the GENIUS Act. Stablecoin legislation expands USDT’s presence Ardoino was present as U.S. President Donald Trump was signing the stablecoin legislation, which creates a federal regulatory framework for fiat-pegged tokens. The bill requires stablecoins to be fully backed by U.S. dollars or similarly liquid assets, and it also mandates annual audits for issuers with a market capitalization exceeding $50 billion. The new stablecoin legislation has led more traditional banks to start planning the launch of their own dollar-backed digital assets. Financial institutions co-owned by JPMorgan, Bank of America, Citigroup, and Wells Fargo are among the top traditional banks threatening Tether’s dominance in the stablecoin market. Ardonio told Bloomberg that those competitors might surpass Tether in the short term in the U.S., but he believes that the USDT issuer has better technology. He argued that Tether has a much better understanding of the stablecoin market than any other company. Tether’s CEO also maintained that the firm does not plan to go public like its competitor, Circle. Tether has had a different trajectory in Europe after the implementation of the European Union’s Markets in Crypto-Assets (MiCA) regulation. The regulation instructed exchanges across the region to stop offering stablecoins that are not compliant with the new rules by April 2025. The rules affected Tether’s USDT since it doesn’t meet MiCA’s regulatory requirements. The European Securities and Markets Authority (ESMA) allowed stablecoin issuers to use their digital assets for a limited period until March 2025. The initiative led to major exchanges removing USDT pairs, causing its market share to drop from 70% in November 2024 to nearly 60% by October 2025. Want your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.