Tether’s Ardoino Reveals Significant Investment: Becomes Leading Buyer of US Treasury Bills with $72.5 Billion Holding

Tether, a prominent stablecoin issuer, has made a notable foray into the world of United States Treasury bills, revealing a substantial investment in these financial instruments. Paolo Ardoino, the Chief Technology Officer of Tether, recently shared on social media that Tether’s exposure to US Treasury bills stands at an impressive $72.5 billion. This remarkable figure places Tether among the ranks of the top 22 holders of such bills, surpassing even several countries like Spain, Mexico, Australia, and the United Arab Emirates.

Ardoino sees this move as a clear indication of the growing relevance of USDT, Tether’s stablecoin, in various emerging markets around the world. According to him, USDT is offering communities a crucial “lifeline” to shield themselves from the rampant inflation affecting their national currencies.

Ardoino’s comments were prompted by a separate social media post highlighting the decreasing level of China’s ownership of U.S. Treasury bills. According to reports, China is gradually reducing its exposure to U.S. debt while diversifying its investments into assets like gold.

It’s worth noting that Tether’s substantial ownership of Treasury bills was previously disclosed by the company earlier this year. On July 31, Tether issued a reserves attestation for USDT, affirming that it holds excess reserves of up to $3.3 billion to back its stablecoin.

Meanwhile, Tether remains focused on expanding its presence in the financial landscape. On August 29, the company announced a new partnership with Britannia Bank & Trust, a private bank based in the Bahamas. This partnership allows Tether to facilitate dollar transfers within its platform, adding Britannia Bank & Trust to its list of banking partners, which already includes institutions like Deltec Bank and Capital Union Bank. Tether’s strategic moves in the world of finance continue to shape its role in the broader cryptocurrency ecosystem.

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