Tether surpasses 500 million users… used by 6.25% of the world's population

U.S. dollar–pegged stablecoin Tether (USDT) has surpassed 500 million users. This corresponds to about 6.25% of the world's population, and Tether CEO Paolo Ardoino called it "the largest achievement in financial inclusion in history."

On the 22nd (local time), Cointelegraph reported that CEO Paolo Ardoino said via X (formerly Twitter), "Tether provides remittance and savings tools to those excluded from the traditional financial system, and now has 500 million real people (real people)." He emphasized that these statistics were calculated based on real users rather than simply wallet addresses.

According to the World Bank (WB), about 1.4 billion adults worldwide currently do not have a bank account. Ardoino said, "Cryptocurrencies are a new opportunity for anyone with a mobile phone to access financial services," adding, "Especially in high-inflation countries or regions at high risk of asset seizure, Tether has become a means of survival."

Tether released a 10-minute documentary on USDT usage in Kenya to commemorate the achievement. The film spotlights cases of local residents and small businesses using stablecoins as a means of livelihood rather than for speculation. As the Kenyan shilling's value has plunged, many importers have adopted USDT as a payment alternative, making it a key tool for keeping businesses running.

Ardoino added, "About 37% of all users use USDT as a store of value."

Tether currently has a market capitalization of $182.4 billion, accounting for 58.4% of the entire stablecoin market, with Circle's USDC following at $76.8 billion.

Meanwhile, Tether is reportedly discussing raising up to $20 billion from investors to value the company at around $500 billion. If completed, Tether would become one of the most valuable private companies in the world. U.S. financial firm Cantor Fitzgerald is participating as the lead manager in the deal.