Tether posted a trailer for an upcoming documentary about USDT engendering financial inclusion on its 10th anniversary.
Tether, the issuer behind the largest stablecoin, USDT, teased a documentary about the asset as it hit a decade since it opened its doors. Titled ‘Stability and Freedom in Chaos,’ Tether plans to release it ‘soon.’ “Dive into the journey of how $USDT has become a lifeline for millions, fighting inflation and fueling financial freedom worldwide,” the teaser post said, accompanied by a trailer.
It comprised interviews with users who have channeled into its benefits, alongside those offered by the blockchain layers it operates on, to overcome the inflation persistent with their national currencies.
Tether Emphasizes Bringing Financial Inclusion With USDT in the Documentary Trailer
Those in the interviews hailed from regions like Argentina, Brazil, and Turkey, which have witnessed successful US dollar-pegged stablecoin adoption to preserve value in the face of the corrosive effects of tremendously high inflation rates. For instance, USDT facilitated 80% of all crypto transactions conducted in Brazil in 2023. Individuals spoke of how USDT helps them, drawing parallels to how the US dollar is used in regions affected by high inflation.
Tether’s CEO Paul Ardoino also used the 10th anniversary to speak of the differences USDT is making worldwide. His X post revolved around themes of financial inclusion and stability. “Tether has built its company on a simple mission: bring financial inclusion to the billions of people, primarily living in developing countries, that can’t have bank accounts (because they’re not generating enough revenues for the traditional banking industry) or that live in high inflation countries, ” it read.
He also mentioned how USDT witnesses usage by hundreds of millions of individuals in their daily lives and tens of millions of individuals adopting the stablecoin each quarter. “Our focus has always been (and will always be) the last mile. Rich people have already tens of ways to transact and store wealth. We build financial tech for the people left behind, ” Ardoino added.
Tether began operations in 2014 and was founded by Brock Pierce, Reeve Collins, and Craig Sellars under the banner Realcoin. It rebranded to Tether and began offering USDT, which relied on the Bitcoin blockchain to execute transactions. However, with the growing blockchain ecosystem, Tether deployed USDT on numerous chains and continues to do so to issue a stablecoin with a market cap of over $119 billion.
