Tether Says USDT Is Powering Commerce Across Developing Countries

• USDT adoption grew in Venezuela, Argentina, Bolivia, and Turkey amid currency pressures.
• Developing markets increasingly used USDT for payments, savings, trade, and settlements.
• Latin America’s crypto activity reached nearly $1.5 trillion through June 2025.

Tether CEO Paolo Ardoino said USDT adoption was expanding across developing economies, where users increasingly relied on stablecoins for commerce and savings. The growing demand reflected broader efforts to access dollar-linked value as local currencies weakened and traditional financial channels faced restrictions. 

USDT was increasingly used beyond crypto trading, with businesses and individuals turning to the stablecoin for payments, international commerce, and preserving purchasing power. 

USDT Adoption Expands Across Developing Markets

Ardoino said in an Aug. 23 X post that several developing economies relied heavily on USDT for domestic and international commerce.  He highlighted Venezuela, Argentina, Bolivia, and Turkey as markets where stablecoin usage continues to increase.

According to Ardoino, weakening currencies, dollar shortages, inflation, and financial restrictions are supporting demand for USDT. Consequently, users can access dollar-linked value without depending entirely on traditional banking systems.

In Venezuela, businesses reportedly use USDT for import and export settlements alongside other payment methods. Meanwhile, Bolivia has seen commercial transactions increasingly involve the stablecoin as currency pressures continue.

Argentina also has significant peer-to-peer USDT activity. In Turkey, users increasingly view dollar-backed stablecoins as a way to protect savings from inflation and currency depreciation.

However, Tether’s claims do not establish that entire national economies depend on USDT. Public datasets measuring economy-wide stablecoin dependence remain limited.

Tether CEO Says USDT Use Is Rising Across Several Developing Countries

Tether CEO Paolo Ardoino said on Aug. 23 that USDT adoption is increasing in developing countries including Venezuela, Argentina, Bolivia and Turkey, according to CriptoNoticias.

He said the stablecoin is… pic.twitter.com/yZYL2LveM4

— Wu Blockchain (@WuBlockchain) August 24, 2026

Regional Crypto Activity Strengthens Stablecoin Demand

Independent data nevertheless points to substantial cryptocurrency adoption across these markets. Chainalysis ranked Turkey 14th, Venezuela 18th, and Argentina 20th in its 2025 global crypto adoption index.

Venezuela ranked ninth globally when adoption was adjusted for population. Furthermore, Chainalysis estimated Latin America’s cryptocurrency activity at nearly $1.5 trillion between July 2022 and June 2025.

Argentina accounted for about $93.9 billion, while Venezuela recorded approximately $44.6 billion during that period. Bolivia also generated around $14.8 billion in tracked cryptocurrency activity.

These figures cover multiple digital assets and therefore do not represent USDT transactions alone. Still, they demonstrate strong demand for alternative financial infrastructure across the region.

Tether has also reported that its products served more than 570 million users worldwide as of March 2026. Its USDT supply reportedly reached a record $188 billion during 2026.

The growing use of USDT highlights stablecoins’ expanding role beyond cryptocurrency trading. They can provide payment, savings, and cross-border settlement options where traditional financial systems face limitations.

Even so, users remain exposed to regulatory, issuer, wallet, and network risks. USDT is not equivalent to a bank deposit, while access can change as governments introduce stricter stablecoin regulations.