The Wall Street Journal reported this week that the demand for US Treasury bonds has been supported by the US dollar-backed stablecoin, helping to prevent the United States from falling into a debt crisis.
In response to this report, Tether CEO Paolo Ardoino posted on X, stating that over 300 million people worldwide use USDT as a digital dollar, providing a crucial tool for the entire community in developing countries. These communities lack access to banking services, with most of them not having bank accounts and facing issues of high inflation and rapid depreciation of their local currencies.
Furthermore, Paolo Ardoino added that by bringing the stability of the US dollar into emerging markets, Tether has become one of the top three global buyers of short-term US Treasury bonds (typically with maturities of less than one year). Additionally, it ranks in the top 20 among global buyers of all types of US Treasury bonds.
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