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Tether, the world’s largest issuer of USD-pegged stablecoins, said its user base has officially crossed 500 million. CEO Paolo Ardoino called it “likely the biggest financial inclusion achievement in history,” framing the moment as proof that stablecoins have reached mass-market adoption. At $182B, the circulating supply of Tether's USDT is more than double competitor Circle's $76B USDC.
What’s the Scoop?
- Half a Billion: Tether’s reach now spans over 500M "users" worldwide, a scale no other crypto issuer has achieved. USDT continues to dominate digital dollar markets, serving as both a trading pair on exchanges and a payments tool in emerging markets where access to stable currencies remains limited.
- Hefty Market Share: With roughly $182B in supply, USDT now accounts for more than 60% of the total stablecoin market, dwarfing competitors like Circle’s USDC and Maker’s DAI.
- Looming Raise: According to a Bloomberg News report released last month,
Tether is seeking to raise between $15B and $20B from private investors in exchange for a roughly 3% stake in the company, equating to a $500B+ private market valuation.
- USAT Launch: Tether plans to roll out a GENIUS-compliant stablecoin, USAT, by the end of the year amid newly passed U.S. stablecoin legislation. As part of the effort to retain a foothold in American markets, Tether also named former White House crypto advisor Bo Hines as CEO of its U.S. business.
Tether USDT reached officially 500 million users!
— Paolo Ardoino 🤖 (@paoloardoino) October 21, 2025
Likely the biggest financial inclusion achievement in history. https://t.co/jbmnMDwidi