Tether, the issuer of the largest stablecoin by market capitalization, recently minted $1 billion worth of USDT tokens. This move is part of an inventory replenishment process on the Tron network.
USDT Inventory Restocking
According to CEO Paolo Ardoino, the minted tokens have not been circulated yet, but are intended to meet possible future demand. This billion-dollar minting event is not isolated. In March, Tether conducted two additional minting operations, each worth $1 billion. These actions demonstrate Tether’s readiness to meet the growing demand for USDT, particularly on the Tron ecosystem.
Tether’s User Growth
Tether's overall user base has grown by 14% in the last five months, surpassing 400 million users, which is more than the population of the United States. This rapid growth underscores Tether’s position as the largest stablecoin with a market capitalization of $144.1 billion. In October 2024, the company reached 350 million users. Ardoino attributes the increasing adoption rate to Tether’s successful development model.
Tether’s Business Expansion
Tether is expanding its business beyond stablecoins. The company recently acquired a 30% stake in the Rome-based media company Be Water. This step towards diversifying its portfolio aligns with Tether’s strategy for growth and investment activities.
Tether continues to strengthen its standing as the leading stablecoin issuer, successfully adapting its operations to meet the growing demand on the Tron platform and expanding its business interests beyond the financial industry.
