The Wall Street Journal reported this week that the demand for US Treasury bonds has been supported by dollar-backed stablecoins, 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 digital dollars, providing a crucial tool for the entire community in developing countries. These communities often lack banking services, with many still unbanked, and face issues such as high inflation and rapid depreciation of their local currencies.
Furthermore, Paolo Ardoino added that by bringing the stability of the dollar into emerging markets, Tether has become one of the top three buyers globally of short-term US Treasury bonds (typically bonds with a maturity of less than one year). Additionally, it ranks in the top 20 among global buyers of all types of US Treasury bonds.