Teter teases USDT documentary on 10th anniversary

Stablecoin issuer Tether has announced on its 10th anniversary that it will release a documentary on USDT and its impact on fighting inflation.

In the trailer, Tether features interviews with stablecoin users as they try to combat inflation. The trailer features interviews with people in Turkey, Brazil and Argentina exposed to high inflation.

Tether (USDT) stablecoin tries to present itself as a tool that people can use in a similar way to the US dollar. “Tether with USDT is about 90% of Brazil's daily transactions,” said one interviewee in Brazil.

In the year By 2023, Brazil's USDT adoption has increased, accounting for 80% of all crypto transactions in the country.

Teter celebrates its 10th anniversary.

Tether's first tokens were launched on October 6, 2014. Entrepreneur Brooke Pierce founded the project originally with Reeve Collins and software engineer Craig Sellar. The launch of Rilcoin laid the foundation for Tether's operations before evolving into what it is today.

The simple premise of the token offers a token that represents fiat currencies at a 1:1 ratio, adding the ability to transfer assets around the world using blockchain technology.

Initially, USDT was developed and operated on the OmniLayer platform built on top of the Bitcoin protocol. The stablecoin was subsequently opened to several other blockchains, including Ethereum, Tron and The Open Network.

With a market capitalization of $120 billion, USDT remains the largest stable coin by market value. This valuation makes the asset the third largest crypto overall after Bitcoin (BTC) and Ether (ETH).

Related: Brazil to lead LATAM crypto trade at $6B in 2024

Financial inclusion of “left behind” people

Tether CEO Paolo Arduino said on XPost that the company has become a “symbol of fragmentation, resilience and stability.” The executive said the organization believes in empowering people, communities and entire nations. He wrote:

Our focus is always (and always will be) the last mile. The rich have ten ways to trade and accumulate wealth. We build financial technology for the rest of us.

Arduino also claims that Tether will bring financial inclusion to the unbanked in developing countries where traditional banking has not provided enough revenue.

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