Tether Supply Hits Record US$160 Billion Amid Growing Demand in Developing Nations
Tether, the world's largest stablecoin issuer, has officially minted 160 billion USDT tokens — setting a new all-time high (ATH) for the digital dollar-pegged cryptocurrency. This milestone underlines the growing demand for digital dollars globally, especially in developing countries where access to traditional banking and US dollars can be limited.
“Reaching 160 billion USDT is a significant milestone driven by the increasing need for a digital dollar across global markets, particularly in emerging economies,” said Tether CEO Paolo Ardoino in a statement posted on social media platform X (formerly Twitter) on Wednesday, July 16.
The news highlights Tether’s expanding role in the global financial ecosystem, where its USDT token is often used for cross-border payments, crypto trading, and as a hedge against local currency volatility. For many users in regions like Latin America, Africa, and Southeast Asia, USDT has become a more accessible and practical alternative to physical dollars.
However, the celebration comes amidst mounting regulatory scrutiny from US lawmakers. A bill currently under discussion in the US Congress — known as the GENIUS Act — could impose stricter requirements on stablecoin issuers, including mandatory independent audits of their asset reserves.
This is a sensitive topic for Tether, which has long been criticised for a lack of transparency over its reserves. Although the company claims it holds US$100 billion in US Treasury bills and US$8 billion in gold to back its tokens, scepticism remains. Some financial experts question whether every USDT in circulation is truly backed by a dollar-equivalent asset.
“Tether has made progress in disclosing its reserves, but without a fully independent audit, it's difficult to assess the real risk,” said a Sydney-based crypto analyst who asked to remain anonymous.
Despite the uncertainty, the appetite for USDT continues to grow. Analysts say Tether’s dominance in the stablecoin market — which includes competitors like USDC and DAI — is largely due to its strong foothold in offshore and decentralised markets.
As regulatory conversations continue, market watchers will be keeping a close eye on how Tether adapts to potential changes, and whether it will finally agree to full transparency to maintain trust in its ecosystem.
One thing is clear: in a world increasingly hungry for digital dollars, Tether is holding its ground — for now.
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