USDt Market Cap Hits $160 Billion, Cementing Role as Digital Dollar

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 (USDT) is used by more than 400 million people worldwide, expanding by 35 million wallets each quarter,…