Tether is planning fresh investments to support the December launch of its U.S.-focused stablecoin, USAT, with the goal of reaching 100M users, according to a CoinDesk interview with CEO Paolo Ardoino. The company plans to leverage its investment in Rumble (RUM) and its 51M users, and is targeting investments in two or three more social media or content platforms to reach its user goal. The report adds that Tether’s flagship token, USDT (USDT-USD), has grown to a $182B supply, while Circle’s (CRCL) USDC (USDC-USD) has a supply of $72B, and the company’s gold-backed token, XAUT, has more than tripled in market size this year to $2.2B.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CRCL:
- Crypto Currents: Coinbase acquires capital raising platform Echo
- Moderately bullish activity in Circle Internet Group Inc with shares up 3.8%
- Largest borrow rate increases among liquid names
- Coinbase Global Stock (COIN) Rises as JPMorgan Upgrades Rating to Buy on Attractive Valuation
- Circle Internet price target raised to $93 from $89 at JPMorgan