Tether’s global users count reaches 600M.
Tether has updated its interactive USDT stablecoin dashboard and global network impact page towards end of the month. The data shows that the number of users engaging with USDT has increased significantly to 600M worldwide. At the start of the year, this was at the 530M mark.
Among other breakdowns, over a third of users are labelled as “savers”, meaning the stablecoin is being held for savings purposes – either as a basic counterweight to inflation of local currencies, or for receiving better savings rates through DeFi platforms and/or mobile wallet apps.
Over the last year, it also reveals a healthy margin of issuance to redemption demand, with around $38B issued vs. $4B redeemed. As it stands, the average cost of sending $500 is around $0.02 over the last 30 days, rivalling the fees of traditional transfer and remittance services.
