Stablecoin issuer Tether (USDT) reported $1.04 billion in internet revenue for the primary quarter of 2026, as its extra reserves rose to a document $8.23 billion, in response to its newest attestation on Friday.
The corporate mentioned its reserves stay closely concentrated in US Treasuries, with round $141 billion in direct and oblique publicity, whereas whole property of about $191.8 billion exceeded liabilities of roughly $183.5 billion as of March 31.
Tether mentioned this stage of publicity makes it the seventeenth largest holder of US Treasuries globally. Past Treasuries, reserves included about $20 billion in bodily gold and $7 billion in Bitcoin (BTC).
USDT circulating provide remained broadly steady at about $183 billion on the finish of the primary quarter. After the interval, CEO Paolo Ardoino mentioned provide has elevated by greater than $5 billion into April.
Tether mentioned its proprietary investments are held individually from reserves backing USDT (USDT) and are funded by extra capital and income.
The report was ready by accounting agency BDO. The corporate additionally mentioned it has begun the formal audit course of.
Tether is the issuer of USDT (USDT), the biggest stablecoin by market capitalization. In response to DefiLlama knowledge, the entire stablecoin market is valued at about $320 billion, with USDT accounting for roughly 59% of the sector.
Whole stablecoins market cap. Supply: DefiLlama
Associated: Tether-backed Oobit rolls out digital Visa playing cards for AI agent USDT spending
Demand for digital {dollars} rises in rising markets
Ardoino mentioned in a submit on X on Friday that USDT’s consumer base reached an all-time excessive of about 570 million within the first quarter, citing demand for {dollars} throughout rising markets.
In Latin America, stablecoins accounted for 40% of crypto purchases in 2025, surpassing Bitcoin’s 18% share, in response to a report launched by Bitso this week based mostly on knowledge from its practically 10 million retail customers. The report described the development as “digital dollarization,” as customers flip to stablecoins for financial savings and on a regular basis transactions.
Supply: Paolo Ardoino
Stablecoins are additionally gaining traction in Africa for remittance funds. Talking on the World Financial Discussion board in January, former UN official Vera Songwe mentioned conventional transfers can value about $6 per $100 despatched, whereas stablecoins enable funds to maneuver extra shortly at decrease value.
Songwe additionally mentioned stablecoins may help customers protect worth in high-inflation environments, noting that inflation has exceeded 20% in a number of African international locations because the pandemic.
Nevertheless, stablecoin adoption has drawn scrutiny from international regulators. The Monetary Stability Board warned in its 2025 annual report that widespread use of US dollar-denominated stablecoins might pose dangers to rising economies, together with foreign money substitution and diminished effectiveness of home financial coverage.
FSB annual report for 2025. Supply: Monetary Stability Board
Journal: Adam Again says present demand is ‘virtually’ sufficient to ship Bitcoin to $1M