Tether Mints Yet Another Billion USDT

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Last Updated on April 21, 2023 by Bitfinsider

Tether, the stablecoin issuer, issued one billion USDT tokens on the Ethereum network late Friday night.

Tether CTO Paolo Ardoino described the minting as a “inventory replenish.” He went on to say that it was “an authorized but not issued transaction, meaning that this amount will be used as inventory for the next period of issuance requests and chain swaps.”

The most prominent stablecoin in the crypto market is USDT, which is tied to the US dollar 1:1. It’s widely used to make trading on major exchanges that don’t take fiat currency easier.

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