and Amplifies Its Footprint in Georgia
As the world’s premier stablecoin issuer, we at Tether have recently reached an unprecedented market cap while broadening our operations in the Republic of Georgia. This surge showcases our growth and our resilience in an ever-changing industry, proving that we are a force to be reckoned with in digital finance.
Tether: Maintaining Stability Amidst Market Volatility
Navigating through market fluctuations and regulatory scrutiny, Tether has maintained its position as a leading stablecoin, despite facing numerous legal actions and inquiries. Our commitment to transparency and trust has led us to collaborate with BDO Italia, enhancing our attestation practices and reporting standards. This initiative is part of our ongoing efforts to address the questions surrounding USDT and to affirm our dedication to stability in the volatile crypto environment.
Investment Strategy: A Bold Move Toward Bitcoin
In a groundbreaking announcement, Tether has revealed plans to allocate 15% of our profits towards bitcoin investment. Given that stablecoins were conceived as less volatile alternatives to decentralized cryptocurrencies like Bitcoin, this decision might seem audacious to some. Nevertheless, it marks a paradigm shift, demonstrating to mainstream investors that stablecoins can be not only stable but also profitable.
Our recent attestation report reveals that approximately 85% of our reserve assets are held in dollar or dollar-equivalent assets, alongside $1.5 billion in bitcoin. This diversification of holdings indicates our strategic expansion, which we believe will profoundly impact the landscape of crypto investing.
Profit Generation: Proving the Viability of Stablecoins
Tether has generated profits of $1.48 billion, surpassing other major stablecoin issuers such as Circle. This financial success underscores the profitability of stablecoins and their potential to generate income for both issuers and holders. As such, we firmly believe that stablecoins continue to affirm themselves as a viable and sustainable business model for issuers.
Navigating the Regulatory Landscape
With regulatory scrutiny becoming a significant aspect of the crypto industry, Tether remains a market leader in stablecoins. We have navigated through past regulatory challenges and remain committed to ensuring that stablecoins will stay relevant in the years to come. Our strategic investment in Bitcoin further cements our position in the market and demonstrates our readiness to adapt and innovate in response to regulatory changes.
Deepening Our Roots in Georgia
We are excited to announce our expansion in the Republic of Georgia, a strategic move made possible through our investment in CityPay.io, a leading payment processing company operating across over 600 locations in the country. Our investment aims to enhance the payment industry in Georgia, improving efficiency and convenience for a diverse range of customers, including major names like Wendy’s and Radisson Hotels.
Georgia: A Hub for Crypto Innovation
Georgia has emerged as one of the most attractive destinations for crypto companies, thanks to its progressive regulatory framework. Recognizing this potential, we are eager to participate in the growth of this vibrant crypto ecosystem. We believe our presence will further solidify Georgia’s status as a global cryptocurrency hub.
Looking Ahead: Embracing New Opportunities
As the crypto landscape evolves, Tether remains committed to advancing our mission. We believe that our investment in Bitcoin and our expansion in Georgia are strategic steps towards a future where stablecoins are an integral part of the financial ecosystem. We are excited about these developments and are eager to see how they contribute to the growth of Tether and the broader crypto community.