Tether, a stablecoin issuer, has become one of the top buyers of United States Treasury bills in the world, according to a post by Tether CTO Paolo Ardoino. Ardoino highlighted that Tether currently has an exposure of $72.5 billion in US T-bills, ranking above many countries like Spain, Mexico, Australia and the United Arab Emirates. He believes that this development demonstrates the relevance of USDT in various emerging markets across the globe, providing communities a “lifeline to protect themselves” against the rampant inflation in their national currencies. Meanwhile, China is getting out of US debt and is moving its funds into gold. Tether also released a reserves attestation for USDT, which holds up to $3.3 billion in excess reserves for its stablecoin. The company is also continuously trying to expand its reach, recently adding a private bank in the Bahamas called Britannia Bank & Trust as a partner, to process dollar transfers within its platform.

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Information	Details
Geography	North America
Countries	🇺🇸 🇨🇳 🇪🇸 🇲🇽 🇦🇺 🇦🇪 🇧🇸
Sentiment	neutral
Relevance Score	9
People	Britannia Bank & Trust, Paolo Ardoino
Companies	Capital Union Bank., Tether, Britannia Bank & Trust, Deltec Bank
Currencies	Ethereum, Tether, Threshold Network, Bitcoin
Securities	None