- In an effort to differentiate itself from the USD, the teaser presents the USDT stablecoin.
- At its inception, USDT was developed and managed on an OmniLayer platform.
On its 10th anniversary, stablecoin issuer Tether announced that a documentary on USDT and its role in combating inflation would be released. Interviews with Tether users who have used the stablecoin to fight inflation were included in the trailer. High inflation rates were shown in the trailer via conversations with citizens in Argentina, Turkey, and Brazil.
In an effort to differentiate itself from the USD, the teaser presents the Tether USDT stablecoin. Tether with USDT is allegedly 90% of Brazil’s daily transactions, according to one interviewee.
Moreover, eighty percent of Brazil’s cryptocurrency transactions in 2023 were USDT-based. On October 6, 2014, Tether released its first tokens. The project was originally co-founded by software developer Craig Sellars, entrepreneur Reeve Collins, and Brock Pierce. Before rebranding as Tether, the Realcoin startup set the stage for the company’s activities.
Biggest Stablecoin in the Market
The basic idea behind the token is that it offers a digital currency that is directly equivalent to fiat currencies, along with other features like the capacity to send assets internationally using blockchain.
Furthermore, at its inception, USDT was developed and managed on an OmniLayer platform based on the Bitcoin protocol. The stablecoin then spread to several other networks, including Ethereum, Tron, and The Open Network.
Market capitalization-wise, USDT is still the biggest stablecoin at $120 billion. Also, the asset is now the third most valuable cryptocurrency in the world, after Bitcoin and Ether, according to its value.
Tether CEO Paolo Ardoino expressed the company’s status as a symbol of stability, resilience, and disintermediation in an X post. According to the CEO, the company’s core value is the empowerment of individuals, groups, and nations.
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