On June 1, 2023, Tether, the company behind the widely-used stablecoin, achieved a new all-time market cap high of over $83.2 billion, surpassing its previous record set in May 2022. CTO Paolo Ardoino highlighted the growing demand for financial freedom and Tether's role in providing a safe haven for the unbanked and those in emerging markets.
Since its inception in October 2014, Tether's USD₮ stablecoin has become the most traded cryptocurrency, offering the benefits of digital currency with the stability of traditional currency. Committed to transparency and compliance, Tether offers a fast, low-cost method for money transactions.