Tether has continued to be a serious participant within the US Treasury market, securing its place because the seventh-largest purchaser of those government-backed securities in 2024.
In a March 20 replace on X, Tether CEO Paolo Ardoino revealed that the corporate had acquired $33.1 billion in US Treasuries. This quantity exceeds the holdings of countries reminiscent of Canada, Taiwan, Mexico, Norway, Hong Kong, South Korea, Germany, and Saudi Arabia.
Regardless of this milestone, Ardoino famous that the Cayman Islands led world purchases, with over $100 billion in acquisitions. Cayman Islands is adopted by France, Luxembourg, Belgium, Singapore, and the UK.
Nevertheless, he clarified that holdings from areas just like the Cayman Islands and Luxembourg embrace investments from a number of hedge funds, whereas Tether’s belongings belong to a single entity.
Tether depends on US Treasuries as a cornerstone of its reserve technique. These authorities securities are thought-about among the many most secure and most liquid belongings globally, they usually guarantee the steadiness of the corporate’s USDT stablecoin.
In accordance with Tether’s final quarterly reserve report in December 2024, the agency’s complete US Treasury holdings are value $94 billion. This holding locations the stablecoin issuer forward of most nations relating to its rising function within the world monetary system.
Ardoino had beforehand argued that the substantial Treasuries holdings help US financial affect and play a key function in sustaining the greenback’s dominance in world commerce.
