USDT Surpasses 429M Users Cementing Its Role as the Digital Dollar

Tether’s USDT Surpasses 429M Users, Cementing Its Role as the Digital Dollar

Tether’s USDT, the world’s largest stablecoin pegged 1:1 to the U.S. dollar, has exceeded 429 million users worldwide, solidifying its role as the de facto digital dollar, especially in emerging markets. According to Tether, this surge is not only accelerating dollar adoption globally but also increasing demand for U.S. Treasury bonds.

As of Q1 2025, USDT boasts a market cap of $153.1 billion and facilitates $31 billion in daily transfers across over 11 million daily transactions. Compared to the previous quarter, the user base grew by 10%, adding over 38 million new users.

Tether emphasized that USDT goes beyond being a stablecoin, stating, “USDT is a digital dollar accelerating USD adoption in emerging economies.” Tether now holds $119 billion in U.S. Treasuries, ranking it 19th globally if compared to sovereign holders.

Tron Dominance and Ultra-Low Fees

USDT operates across multiple blockchains including Tron, Ethereum, and Solana. Tron leads with $76 billion in issued USDT, followed closely by Ethereum at $72 billion. Transfer fees average $0.09, meaning users can send $500 for under a penny.

USDT’s accessibility is a key advantage. Over 43.2 million wallets hold more than $1 in USDT on-chain, and weekly active users exceed 7.5 million. About 13% of all USDT in circulation is held as savings.

Regulation and Compliance

Tether actively collaborates with over 230 law enforcement agencies across more than 230 jurisdictions. To date, $2.5 billion in illicit funds have been frozen, $1.1 billion of which was in partnership with U.S. authorities.

In the past year alone, Tether issued $41.6 billion in new USDT while only $6.5 billion was redeemed—evidence of growing, sustained demand.

Tether concluded, “USDT is the backbone of global dollar adoption and a driver of the future of digital payments.”