A new report from Oobit reveals that USDT (Tether) dominates the stablecoin market in Latin America, capturing nearly 100% of transaction volumes in countries like Bolivia, Peru, and Ecuador, and around 90% in Brazil and Chile. This dominance highlights USDT's role as a dollar proxy and its widespread use as a cash equivalent for daily transactions such as groceries and restaurants. Oobit links this growth to its platform enabling users to spend stablecoins directly via Visa's 150 million merchant network, converting crypto to local currency instantly. The report also notes significant growth in Brazil and the recent expansion into Colombia, signaling increasing adoption of stablecoins for everyday payments in the region.
Circle won a court-backed arbitration ruling confirming it lawfully suspended Heka Funds' USDC minting and redemption services due to undisclosed ties to Tether and suspected market manipulation. Heka failed to disclose Tether as its main investor, w...
Tether is shifting stablecoin use from crypto trading to everyday financial services by leading a $7 million investment in Pact Labs. The company aims to integrate its stablecoin USA₮ into payroll systems and real-time payments, addressing the $11 tr...
Pact Labs secured $7 million in a Series A funding round led by Tether to enhance its on-chain lending platform on the Aptos blockchain. The company operates the PACT Protocol, which has facilitated nearly $2 billion in loans and serves around 500,00...
Tether led a $7 million Series A funding round in Pact Labs to expand the use of its USA₮ stablecoin in payroll, payments, and lending through fintech partnerships. Pact Labs connects traditional fintech with blockchain liquidity, enabling over 500,0...
South Korean cryptocurrency exchange Upbit began trading the Derive (DRV) token on July 14, offering trading pairs with Korean won (KRW), Bitcoin (BTC), and Tether (USDT). This listing enhances DRV's exposure in one of Asia's largest crypto markets a...
