Latest news with #USDt
Crypto Insight
18-07-2025
- Business
- Crypto Insight
USDt market cap hits $160B, cementing its ‘digital dollar' role: Tether CEO
The market cap of Tether's USDt, the world's largest stablecoin, has surpassed $160 billion for the first time, a 'new mind-blowing milestone,' according to Tether CEO Paolo Ardoino. In a Thursday post on X, Ardoino called the achievement a testament to USDt's growing role as the digital dollar for 'billions of people living in emerging markets and developing countries.' USDt crossed $150 billion in May. Ardoino has said that USDt is used by more than 400 million people worldwide, expanding by 35 million wallets each quarter, especially in emerging markets where it serves as a reliable dollar substitute. The blockchain distribution of USDt shows that Tron hosts the highest USDt supply, now accounting for about $81 billion, compared to Ethereum's $65 billion, according to data from DefiLlama. USDt issuance on other networks is significantly smaller, totaling $6.8 billion on BNB Chain, $2.3 billion on Solana and $1.1 billion on Polygon. USDt backed by cash and US Treasurys According to Tether's attestations, cash and cash equivalents, primarily short-term US Treasurys, constitute 81.5% of USDT's backing reserves, with Bitcoin accounting for 5.1%. Tether holds over $127 billion in US Treasurys as of Q2 2025, ranking as the 18th largest holder globally, alongside countries like South Korea and Germany. The company posted over $1 billion in operating profit in Q1. The stablecoin issuer has also been consistently minting new tokens. On Wednesday, Tether minted another $1 billion, with more than $4 billion over the past week alone. Last week, Tether announced it will stop allowing redemptions of USDt on five legacy blockchains, including Omni Layer, Bitcoin Cash SLP, Kusama, EOS (now Vaulta), and Algorand, starting Sept. 1. The move aims to let the company focus on blockchains with better scalability, more developer activity and stronger community engagement, according to CEO Ardoino. Stablecoin market expands amid growing regulatory clarity The stablecoin market has been expanding quickly, with fiat-pegged digital assets increasingly seen as the internet's go-to settlement layer. In 2024, stablecoin transaction volumes even surpassed those of Visa and Mastercard combined. The growing momentum comes as the Trump administration has prioritized stablecoin regulation, with the GENIUS Act leading the charge. The bill gained bipartisan support in the Senate Banking Committee and passed the Senate in June. However, it stalled in the House of Representatives after a group of lawmakers blocked a key procedural vote on Tuesday. The House is set to vote Thursday on the GENIUS Act as a standalone measure. Source:
Gulf Insider
13-07-2025
- Business
- Gulf Insider
Dubai's Emirates Airline To Enable Crypto Payments
Dubai's international airline Emirates signed a memorandum of understanding (MoU) with to integrate Pay into the airline's payment infrastructure, with implementation expected next year. The signing ceremony took place in the presence of His Highness Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive of Emirates Airline & Group, the airline announced on Wednesday. The MoU was signed by Adnan Kazim, Emirates' deputy president and chief commercial officer, and Mohammed Al Hakim, president of UAE operations. 'This strategic move is in line with Dubai's vision to be at the forefront of financial innovation while at the same time providing our customers with greater flexibility and choice in how they transact with Emirates,' Kazim said. Beyond payment integration, the two companies will collaborate on promotional campaigns to raise awareness and drive user adoption once the service goes live. A spokesperson confirmed to Cointelegraph that the integration is set for the last quarter of the year. 'The initial phase will focus on technical readiness, compliance alignment, and customer experience mapping,' the spokesperson said. Furthermore, Emirates and will determine whether the rollout will begin on select routes, regional markets, or through a global launch, with pilot phases likely to precede wider implementation. The spokesperson also confirmed that crypto payments from customers will be converted instantly to fiat (AED) using real-time exchange rates at the point of transaction. 'Emirates will not hold any cryptocurrency on its books; settlements will occur in AED, ensuring compliance and minimal FX exposure,' they said. also said it continues to explore regional and international airline integrations as part of a broader travel and commerce strategy. 'The goal is to build a universal crypto travel layer bringing seamless, secure, and compliant payment experiences to travelers across air, retail and hospitality sectors.' The integration comes amid Dubai's push to lead in crypto, as the city seeks to establish itself as a primary hub for blockchain and digital asset projects. Backed by regulatory clarity and a pro-innovation environment, several industries in the emirate, from real estate to telecommunications, have already opened their doors to cryptocurrency payments. Earlier this year, Tether partnered with UAE-based Reelly Tech to expand the use of its USDt stablecoin in real estate transactions. The deal allows buyers to use USDt to purchase property through 30,000 Reelly Tech agents globally. Last month, the Dubai Financial Services Authority (DFSA), the financial regulator in charge of the Dubai International Financial Centre (DIFC), approved Ripple's RLUSD stablecoin. DIFC companies can now use the RLUSD stablecoin for various virtual asset services. The Dubai Multi Commodities Centre free zone has attracted over 600 crypto companies, with more firms flocking to the Dubai International Financial Centre and One Central district as the country positions itself as a leader in digital finance. Dubai's real estate market reached new highs in May, with sales totaling 66.8 billion dirhams (around $18.2 billion) across 18,700 transactions, a 44% increase in value year-on-year. The surge came amid an accelerating push into real estate tokenization. In May alone, multiple initiatives, including a $3 billion RWA deal involving MultiBank Group, real estate giant MAG and blockchain infrastructure provider Mavryk, were launched by government and industry players. On May 19, the Virtual Asset Regulatory Authority, Dubai's crypto regulator, updated its guidelines to include provisions for real-world asset (RWA) tokenization. Lawyer Irina Heaver told Cointelegraph these rules give issuers and exchanges a clear path to launch and trade tokenized real estate assets.
Yahoo
13-05-2025
- Business
- Yahoo
XRP overtakes Tether, analyst says it could hit $10 in 2025
XRP has officially overtaken Tether (USDt) to become the third-largest cryptocurrency by market cap, now valued at over $151 billion. This milestone comes as XRP continues its strong bull run, with the token trading at $2.59, up 10.2% in the last 24 hours and 22.4% over the past week, according to Kraken's price feed. Now, one crypto analyst believes XRP's rally is only getting started — and that the price could climb to $10 or more in 2025. Crypto analyst Edo Farina shared his bullish take on X (formerly Twitter), pointing to several key factors behind his price projection. One of the biggest catalysts, according to Farina, is Bitcoin Dominance (BTC.D) — a metric that tracks how much of the total crypto market belongs to Bitcoin. He notes that when BTC.D drops, it often signals the start of an altcoin season, which could push XRP and other tokens higher. Another major factor is the regulatory clarity Ripple now enjoys in the U.S. after resolving its long-running lawsuit with the SEC. Farina argues that XRP must become central to global payments and real-world asset (RWA) tokenization. Ripple is already making moves in that direction — reportedly contributing to the digital Euro rollout and acquiring key players like Hidden Road, with potential talks around buying Circle, the issuer of USDC. Another potential game-changer? XRP ETFs. If the SEC approves exchange-traded funds for XRP, Farina believes demand could explode. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Crypto Insight
08-05-2025
- Business
- Crypto Insight
Tether launches on Kaia, brings USDt to LINE's 196M user ecosystem
Tether deployed its flagship stablecoin, USDt, on the Kaia blockchain as part of a broader collaboration with Line Next, the Web3 arm of Line, Japan's popular messaging platform with more than 196 million monthly active users. The integration means USDt will now be supported across Line's messenger-based Mini DApp ecosystem and self-custodial wallet, enabling users to interact with stablecoins inside an interface they already use daily, Tether said in a May 7 announcement. Line users will be able to use USDt for in-app payments, cross-border transfers and decentralized finance (DeFi) activities. 'Through LINE NEXT's blockchain infrastructure, over 200 million LINE users will now have a straightforward way to engage with digital assets in everyday life,' Tether CEO Paolo Ardoino said, adding: 'Tether's expansion to Kaia underscores its commitment to fostering stablecoin adoption across Asia and beyond.' Line users to transfer USDT via in-app wallet Initial features include mission-based USDT rewards within Mini DApps and peer-to-peer USDT transfers via Line's in-app wallet. Future additions may expand stablecoin functionality across other app layers. The Kaia blockchain, which powers Line's Mini DApps, offers low-latency transactions and immediate finality, making it a strong partner for stablecoin activity, according to Kaia DLT Foundation chair Sam Seo. Seo added that this collaboration aims to bring 'the fastest, easiest, and most reliable' USDT experience to users across platforms like LINE, DeFi apps, and centralized exchanges. Line Next CEO Youngsu Ko also claimed that the stablecoin integration will help create a 'dollar-based gateway' for users, making Web3 services more practical and accessible for the region's everyday consumers. Tether's USDT is the largest stablecoin in terms of market capitalization, with a circulating supply of over 149.4 billion tokens, according to data from CoinMarketCap. The stablecoin issuer has also been consistently minting new tokens. On May 5, Tether minted another $1 billion USDT on the Tron network, bringing the total USDT on Tron to $71.4 billion. In comparison, there is currently $72.8 billion USDT circulating on the Ethereum network. On May 6, Tether announced a partnership with Chainalysis that will integrate the company's compliance and monitoring tools onto Tether's tokenization platform. The move comes amid expanding oversight across the crypto industry. Source:
Yahoo
02-04-2025
- Business
- Yahoo
USDC Payments Accepted by Sony Electronics Singapore Through Crypto.com Partnership
Sony Electronics Singapore has announced the acceptance of USDC stablecoin payments through a partnership with This integration reflects a growing trend of stablecoin adoption in Singapore and the broader Asia-Pacific region. The announcement, made on April 2, highlights Sony Electronics Singapore's initiative to incorporate cryptocurrency into its payment options. Chin Tah Ang, general manager of Singapore, stated that the collaboration aims to make crypto payments more mainstream and simplify transactions for consumers. This move is part of a broader pattern of increasing stablecoin acceptance among retailers in Singapore. In late February, Metro, a publicly listed department store chain, also began allowing customers to pay with stablecoins such as Tether's USDt. These developments indicate a shift toward integrating digital currencies into everyday commerce. Singapore's regulatory environment has contributed to its emergence as a hub for crypto and blockchain technology. Reports indicate that the country issued twice as many crypto licenses in 2024 compared to the previous year, suggesting a proactive approach to fostering crypto innovation. William Croisettier, chief growth officer of ZKcandy, noted that Singapore's focus on investor protection through risk-adjusted regulation facilitates partnerships between crypto firms and local banks. In a related development, Singapore Gulf Bank, a digital banking entity, is reportedly seeking to raise at least $50 million to acquire a stablecoin payments company in 2025. This reflects ongoing interest in the stablecoin sector within the region. Overall, the acceptance of USDC by Sony Electronics Singapore marks a significant step in the evolution of payment methods in the region, aligning with the increasing integration of cryptocurrency into mainstream financial systems. Sign in to access your portfolio
