Tether USDt Hits $160B, as Global Digital Dollar
Tether’s USDt Hits a $160B market cap, strengthening its position as the top digital dollar, with growing use in emerging markets and Tron leading blockchain supply.
USDt Market Cap Surpasses $160B Milestone
Tether’s USDt stablecoin has surpassed the $160B mark, confirming its status as the dominant digital dollar and reshaping global financial settlements.
Paolo Ardoino, CEO of Tether, called it a huge milestone, highlighting USDt’s expanding role across developing regions where access to dollars remains limited.
Emerging markets are seeing a rise in USDt usage, with 400M+ users and 35M new wallets added every quarter, making it a top alternative to fiat currency.
Tron Hosts Largest USDT Supply on Blockchain (Tether USDt Hits $160B)
According to DefiLlama data, Tron blockchain now holds the largest USDT supply, with over $81B, followed by Ethereum with about $65B worth in circulation.
Other chains like BNB Chain, Solana, and Polygon carry far smaller USDt reserves, ranging from $6.8B to just over $1B respectively.
This distribution shows Tron’s growing dominance as the primary network for USDT transactions due to scalability and lower network fees.
USDt Backed by Treasurys, Cash & Bitcoin
Tether reports that 81.5% of USDt reserves consist of cash and short-term US Treasurys, with Bitcoin comprising 5.1% of its backing as of Q2 2025.
Holding over $127B in US Treasurys, Tether ranks among the world’s top 20 sovereign holders, rivaling countries like Germany and South Korea.
In Q1 2025 alone, the firm reported over $1 billion in operational profit, further bolstering confidence in the strength of its reserve model.
Tether Mints Billions as It Shifts Blockchain Focus
Tether continues minting aggressively, creating $1B on Wednesday and over $4B in a single week, signaling high demand across crypto platforms.
The company will end USDT redemptions on five older blockchains including Omni, BCH SLP, Algorand, EOS, and Kusama, effective September 1, 2025.
This strategic move allows Tether to prioritize chains offering better scalability, more developer activity, and stronger crypto community presence.
Stablecoin Use Surges as Regulation Gains Ground
Stablecoins like USDT are becoming critical to the global digital economy, even outpacing Visa and Mastercard transaction volumes in 2024.
Regulatory momentum is rising, with the GENIUS Act leading efforts to structure stablecoin laws and gaining Senate approval earlier this year.
The bill stalled in the House on Tuesday but is set for a standalone vote on Thursday, as stablecoins grow vital for future digital finance systems.