Amidst new accusations about the status of its reserves, new studies demonstrate the popularity that the stablecoin USDT has achieved as an alternative for savings and a gateway to the bitcoin (BTC) market and other cryptocurrencies.
As the study conducted by Visa points out, the data collected They show the growing adoption of stablecoins – and particularly of USDT – in emerging economies, where there is a higher frequency of transactions, significant penetration in wallets and an increase in liquidity.
In this sense, the results indicate that 57% of users claim to have increased their use of stablecoins in the last year, while 72% believe that their use will increase in the future.
«USDT is preferred by enjoy greater user confidencehaving greater liquidity and a longer history relative to other stablecoins,” the report notes.
The figures also highlight the main motivations that drive users to use stablecoins, being the path to trading cryptocurrencies of 50% of the nearly 3,000 people interviewed. This is followed by interest in accessing dollars and saving in this currency (47%), and generating returns (39%).
At this point, the report highlights the scope of “non-cryptographic uses” of these currencies, as “the results of our survey contradict the common belief that stablecoins are used exclusively as a tool for speculation with cryptoassets.”
Ethereum It is the most popular blockchain among the sample users, followed by Binance Smart Chain, Solana and Tron. The most used wallets are Binance (exchange), Trust wallet, Metamask, Coinbase wallet, crypto.com and Phantom wallet.
The high interest that users show for USDT was highlighted by Tether CEO Paolo Ardoino on a post by X.
Ardoino did not comment on an accusation filed on September 12 by Consumers’ Research, a U.S. consumer protection group.
New questions about reservations
According to the published document According to Consumers’ Research, Tether has not yet conducted a full audit of the dollar reserves “that purportedly back the USDT stablecoin.”
“This lack of transparency is similar to the situation that precipitated the collapse of FTX and Alameda Research,” argue the authors of a report that denounces the company “for its lack of transparency around its US dollar reserves.”
The group’s statements were accompanied by An open letter sent to all state governors in the U.S., drawing attention to the fact with radio ads and a website dedicated to arguing his allegations.
On this topic of reserves, Tether representatives often point out that they are committed with the publication of real-time data about its reserves. These actions began to be carried out at the beginning of this year, in compliance with an agreement reached in 2021 with the legal authorities of New York.
Data is constantly updated in your website. Consumers’ Research says the information It is not supported by an accounting firm reputable, although Howard Lutnick, CEO of Cantor Fitzgerald (which manages Tether’s US securities portfolio), ensures that the company “has the money it says it has.”
