Tether's stablecoin is now partially backed by non-US bonds.
6/5/2022, 09:18 AM
Cameron and Tyler Winklevoss, the billionaire twins known for their early involvement in Facebook, think so.
In a report released today, the issuer of the stablecoin tether said that the digital currency is now backed in part by "non-U.S." government bonds. This is the first time that the company has revealed that it is buying government debt from countries outside of the U.S. in addition to Treasury bills.
Tether is a crucial part of the crypto market, with $74 billion in circulation. It is the world's biggest so-called stablecoin, facilitating billions of dollars' worth of trades each day. Investors often park their cash in tether in times of heightened volatility in bitcoin and cryptocurrencies.
Can crypto clean up its dirty image?Cameron and Tyler Winklevoss, the billionaire twins known for their early involvement in Facebook, think so
In a report released today, the issuer of the stablecoin tether said that the digital currency is now backed in part by "non-U.S." government bonds. This is the first time that the company has revealed that it is buying government debt from countries outside of the U.S. in addition to Treasury bills.
Tether is a crucial part of the crypto market, with $74 billion in circulation. It is the world's biggest so-called stablecoin, facilitating billions of dollars' worth of trades each day. Investors often park their cash in tether in times of heightened volatility in bitcoin and cryptocurrencies.
Can crypto clean up its dirty image?Cameron and Tyler Winklevoss, the billionaire twins known for their early involvement in Facebook, think so