Tether was 7th largest US Treasury holder in 2024, surpassing nations like Canada and Norway

Tether has continued to beryllium a large subordinate successful the US Treasury market, securing its presumption arsenic the seventh-largest purchaser of these government-backed securities successful 2024.

In a March 20 update connected X, Tether CEO Paolo Ardoino revealed that the institution had acquired $33.1 cardinal successful US Treasuries. This magnitude exceeds the holdings of nations specified arsenic Canada, Taiwan, Mexico, Norway, Hong Kong, South Korea, Germany, and Saudi Arabia.

Tether US Treasuries 2024 Purchases (Source: X/Ardoino)

Despite this milestone, Ardoino noted that the Cayman Islands led planetary purchases, with implicit $100 cardinal successful acquisitions. Cayman Islands is followed by France, Luxembourg, Belgium, Singapore, and the United Kingdom.

However, helium clarified that holdings from regions similar the Cayman Islands and Luxembourg see investments from aggregate hedge funds, portion Tether’s assets beryllium to a azygous entity.

Tether relies connected US Treasuries arsenic a cornerstone of its reserve strategy. These authorities securities are considered among the safest and astir liquid assets globally, and they guarantee the stableness of the company’s USDT stablecoin.

According to Tether’s past quarterly reserve report successful December 2024, the firm’s full US Treasury holdings are worthy $94 billion. This holding places the stablecoin issuer up of astir countries regarding its increasing relation successful the planetary fiscal system.

Tether’s USDT Reserve Breakdown (Source: Tether)

Ardoino had antecedently argued that the important Treasuries holdings enactment US economical power and play a cardinal relation successful maintaining the dollar’s dominance successful planetary trade.

The station Tether was 7th largest US Treasury holder successful 2024, surpassing nations similar Canada and Norway appeared archetypal connected CryptoSlate.