The asset is used by more than 500 million people, surpassing the population of Brazil or the USA. The keys to its growth. With over 500 million active users, mostly concentrated in emerging markets and developing countries, Tether claims it has become the most massive channel for inclusion.
The audited report by BDO Italia shows that Tether International S.A. de C.V. closed the quarter with $181.200 billion in assets, of which $135.000 billion corresponds to US Treasury bonds, both in direct and indirect exposure.
In parallel, the company maintains $174.400 billion in USDT issued, backed by a reserve surplus of $6.800 billion. In other words, each token is 100% covered by liquid assets, plus an extra margin of almost 4 percent.
Between January and September, Tether achieved net earnings of over $10.000 billion, driven by the performance of its Treasury portfolio in a context of high rates. To dimension the data: its annual profits exceed those of many medium-sized global banks and approach the GDP of several African countries.
Guillermo Escudero, Director of CryptoMKT Argentina, tells iProUP that, according to estimates, Tether has positions in US Treasury bonds worth $120 trillion according to the transparency report from BDO that was included on its official website.