Tether-Issued Stablecoin USDT’s Market Dominance Surges as Market Cap Surpasses $118B

Stablecoins, cryptocurrencies whose value is supposed to be pegged to a real-world asset akin to a nationwide foreign money or gold, are key items of plumbing for the crypto market, serving as a bridge between fiat cash and digital belongings. They’re more and more common for non-crypto actions in rising areas like Latin America and Southeast Asia, with makes use of starting from saving in {dollars}, funds and cross-border transactions, a contemporary report by enterprise capital agency Citadel Island and hedge fund Brevan Howard Digital stated.