The post Tether teases USDT documentary on 10th anniversary appeared on BitcoinEthereumNews.com.

Tether, the company behind the world’s biggest stablecoin, has announced a new documentary on USDT as part of its 10th-anniversary celebrations. The film will focus on how USDT has helped millions of people protect themselves from inflation and local currency devaluation. USDT’s growth and technical evolution In the documentary trailer, there are interviews with people who rely on USDT to handle day-to-day transactions in places hit hard by inflation. One interviewee from Brazil said: “Tether with USDT is like 90% of the transactions that Brazil makes during the day.” In Brazil, USDT adoption has exploded, making up 80% of all crypto transactions in 2023.  USDT was first launched on October 6, 2014, by entrepreneur Brock Pierce, alongside Reeve Collins and software engineer Craig Sellars. Initially called Realcoin, the project was reportedly designed to issue tokens representing fiat currencies on a 1:1 ratio, giving users the ability to transfer funds globally using blockchain. Realcoin eventually rebranded as Tether, and USDT quickly became the largest stablecoin on earth.  Originally built on the Bitcoin blockchain via the OmniLayer protocol, USDT expanded over the years to multiple blockchains, including Ethereum, Tron, and The Open Network. Its flexibility on these platforms has only fueled its growth. Today, USDT’s market cap stands at $120 billion, making it the third-largest cryptocurrency, trailing only Bitcoin and Ethereum. To mark the occasion, Paolo Ardoino, Tether’s CEO, explained that their mission has always been to offer financial tools to people who are left out by traditional banking systems, especially those living in countries dealing with high inflation. He added that hundreds of millions globally are already using USDT as their “digital dollar,” and tens of millions of new wallets are being added each quarter. In his words: “Our focus has always been (and will always be) the last mile. Rich…

---

Filed under: News - @ October 6, 2024 9:05 pm