Tether’s US Treasury Holdings Exceed Canada and Taiwan, Ranking 7th Worldwide
Tether, the issuer of the world’s largest stablecoin USDt (USDT), has become the seventh-largest global buyer of US Treasury securities, surpassing major economies such as Canada, Taiwan, Mexico, Norway, and Hong Kong.
Key Highlights
- Tether acquired over $33.1 billion in US Treasurys in 2024.
- The Cayman Islands ranked first globally, purchasing over $100 billion in Treasurys.
- Tether’s holdings represent a single entity’s investments, unlike Luxembourg and the Cayman Islands, whose figures include multiple hedge funds.
Tether invests in US Treasurys as backing assets for its stablecoin, given their reputation as safe and highly liquid investments.
Stablecoin Market Growth
The stablecoin market continues to expand significantly, recently surpassing a total supply of $219 billion. Analysts from IntoTheBlock suggest this growth indicates the market is still mid-cycle rather than at the peak of a bull run.
US Stablecoin Legislation Expected Soon
US lawmakers are actively working on stablecoin legislation, with industry experts predicting its passage by August 2025. Kristin Smith, CEO of the Blockchain Association, highlighted bipartisan support and active behind-the-scenes efforts to finalize the legislation.
This legislative push aligns with growing stablecoin adoption among investors and policymakers, signaling increased mainstream acceptance and regulatory clarity in the near future.
