USDT in the spotlight: latest news

Tether has made an investment in the African fintech company Kotani Pay to enhance blockchain access, promote financial inclusion, and empower millions of people throughout Africa.

Tether CEO discussed the concept of "stability" in a recent interview, emphasizing that he expects each employee to contribute $100 million in profit. He also shared insights about Bitcoin, gold, and stablecoins, positioning Tether as one of the most profitable companies globally.

Pave Bank has successfully raised $39 million in a funding round that included participation from Tether. This investment will be used to improve the bank's platform.

Stablecoins facilitated approximately $46 trillion in transactions over the last year, as reported by a16z crypto. Additionally, the total value of on-chain dollars now represents 2.3% of global payments, highlighting their growing importance in the financial landscape. Bitcoin enthusiasts should pay attention to this trend as it signifies the increasing adoption of digital currencies in mainstream finance.

Tether Investments participated in a $39 million Series A funding round for Pave Bank, a groundbreaking financial institution that aims to be the world's first "programmable bank."

Tether recently minted an additional 1 billion USDT, sparking renewed discussions about the influence of stablecoin liquidity on the cryptocurrency market. Since the crash, Tether has issued a total of $7 billion in stablecoins.

The growing market for gold tokens, now valued at $3.9 billion, raises concerns akin to those associated with stablecoins. Issues related to delivery, long-term reliability, and the capacity to redeem these tokens for physical gold are significant risks that investors should consider.

Tether CEO Paolo Ardoino announced that the stablecoin USDT has now reached 500 million users globally, a milestone he shared on his social media.

Binance has successfully integrated Tether (USDT) onto the KAIA network, and users can now access deposits and withdrawals.

Ripple's native token, XRP, has faced significant pressure in the past two weeks, losing nearly all of its substantial gains made in the third quarter. The cryptocurrency continues to struggle against both Bitcoin and the US dollar.

Bitcoin (BTC) temporarily rose to $111,000, currently trading at $111,216.14. This marks a 3.33% increase from the previous day, according to the Binance Tether (USDT) market.