Crypto - 10 Years That Tether Has Been Fighting Against Financial Instability And That's Worth Celebrating!

On October 6, 2024, Tether, the issuer of the USDT stablecoin, is celebrating its 10th anniversary with the release of a documentary titled “Stability and Freedom in Chaos”. This film highlights the significant impact of USDT in countries like Turkey, Brazil, and Argentina, where rampant inflation has driven citizens to seek crypto alternatives to protect their wealth.

Stability and freedom in chaos: the mission of Tether (USDT) for 10 years already!

Since its launch in 2014, USDT has played a crucial role in providing financial stability in unstable economic environments, which has among other things boosted the adoption of stablecoins in Africa. In Turkey, for example, USDT has become a refuge against the devaluation of the Turkish lira. In 2024, the USDT-TRY trading pair was the most popular on the Binance crypto exchange, with over $22 billion traded.

In Brazil, USDT has also seen explosive adoption, representing 90% of the daily crypto transactions in the country. Brazilians use USDT not only for daily transactions but also as a means to preserve their purchasing power in the face of persistent inflation.

In Argentina, where inflation and currency devaluation are chronic issues, USDT has become an essential tool for many citizens. Many Argentines directly convert their salaries into USDT crypto to avoid the loss of value of their local currency. This practice has become a common strategy to maintain their purchasing power in an uncertain economic context.

Building crypto technologies for the left behind

Tether’s documentary features interviews with users from these countries, showing how USDT has helped to combat inflation and offer some financial stability. Paolo Ardoino, CEO of Tether, emphasized the company’s commitment to providing inclusive financial solutions for underserved populations. He stated:

“Our goal has always been (and will always be) the last mile. The rich already have dozens of ways to transact and store their wealth. We are building financial technologies for the left behind.”

Finally, the 10th anniversary of Tether and the release of this documentary mark an important milestone in the history of USDT. By providing financial stability in unstable economies, USDT continues to play a vital role in the lives of millions of crypto users around the world.