Tether, the world’s largest issuer of USD-pegged stablecoins, said its user base has hit 500 million for the first time.
“USDT reached officially 500 million users,” CEO Paolo Ardoino said in a post to X. “Likely the biggest financial inclusion achievement in history.”
Total supply for Tether’s USDT stablecoin is at nearly $182 billion, according to The Block Data Dashboard. The second-largest issuer is Circle with about $75 billion of USDC in circulation.
“Programmable money is the ultimate social network,” Ardoino said Tuesday. “A peer-to-peer construct that transports both information and value.”
Last month, Bloomberg reported that El Salvador-based Tether is in talks with investors to raise as much as $20 billion at around a $500 billion valuation, which would make the stablecoin issuer one of the most valuable private companies in the world, alongside high-profile tech companies like OpenAI and SpaceX.
Cantor Fitzgerald, said to be a Tether shareholder, is advising the potential deal, the report said.
By the end of the year, Tether aims to launch USAT, a dollar-backed stablecoin designed for U.S. users. A new regulatory framework in the U.S. has served to motivate both crypto firms and traditional financial institutions to take more interest in stablecoins for the U.S. market.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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