Tether reports $1.04B profit in Q1 as Treasury holdings reach $141B

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Total stablecoins market cap. Source: DefiLlama Related: Tether-backed Oobit rolls out virtual Visa cards for AI agent USDT spending Ardoino said in a post on X on Friday that USDT’s user base reached an all-time high of about 570 million in the first quarter, citing demand for dollars across emerging markets. In Latin America, stablecoins accounted for 40% of crypto purchases in 2025, surpassing Bitcoin’s 18% share, according to a report released by Bitso this week based on data from its nearly 10 million retail users. The report described the trend as “digital dollarization,” as users turn to stablecoins for savings and everyday transactions. Source: Paolo Ardoino Stablecoins are also gaining traction in Africa for remittance payments. Speaking at the World Economic Forum in January, former UN official Vera Songwe said traditional transfers can cost about $6 per $100 sent, while stablecoins allow funds to move more quickly at lower cost. Songwe also said stablecoins can help users preserve value in high-inflation environments, noting that inflation has exceeded 20% in several African countries since the pandemic. However, stablecoin adoption has drawn scrutiny from global regulators. The Financial Stability Board warned in its 2025 annual report that widespread use of US dollar-denominated stablecoins could pose risks to emerging economies, including currency substitution and reduced effectiveness of domestic monetary policy. FSB annual report for 2025. Source: Financial Stability Board Magazine: Adam Back says current demand is ‘almost’ enough to send Bitcoin to $1M

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Stablecoin giant Tether raked in $1.04 billion in Q1! Excess reserves soared to a record high of $8.23 billion, solidifying its position as the 17th largest holder of U.S. Treasuries globally.