The Stablecoin issuer, Tether, now reportedly owns over $91 billion in U.S. Treasury assets. According to the reports, the Stablecoin company ranks at #19 ahead of Germany.
The U.S. Treasury bills are fast changing, and their dynamics are drawing attention in the global financial space. Major investors like China and Japan are making huge changes to their investment positions, influencing markets.
The first quarter reports, as shown by Tether, show massive potential for stablecoins impacting national and global finance.
Tether now owns more US Treasuries than Germany moving to #19 ☝️@Tether_to now ranks 19th in the world for holding U.S. Treasury bonds, with $91 billion worth as of March 31st.
— MartyParty (@martypartymusic) May 19, 2024
Tether Shares its Holdings for the First Quarter
The company’s financials revealed over $90 billion in Treasury bill holdings. According to the reports, Tether may hold Treasury assets directly or indirectly. Additionally, the company indicated that its possession of Bitcoin would be worth $5.4 billion by the end of the first quarter.
Also Read: Exclusive: Tether CEO Paolo Ardoino on USDT’s Evolution and Impact Beyond America
The Stablecoin company is certainly making huge strides in global finance. Currently, its U.S. Treasury rankings place it between South Korea and Germany. Overall, Paolo Ardoino’s led company recorded a total profit of $4.52 billion for the first quarter.
Treasury Rankings Keep Changing
Big players in the U.S. Treasury landscape are making massive strategy changes, shifting the overall landscape. Countries like Japan and China have been significant holders of U.S. Treasuries; however, their positions are changing.
China has massively reduced its U.S. Treasury holdings to $767 billion from $869 billion in one year. Japan has been the largest holder of U.S. Treasury bills for a long time, with close to $1.2 trillion invested. Recent global finance predictions by Bloomberg suggest Japan could sell some of its treasury assets due to the weakening yen.
Also Read: U.S. Treasury Secretary Janet Yellen Anticipates Slow Decline in Dollar’s Reserve Currency Status
Authorities Call for Tight Regulation
NEW: 🇺🇸 Stablecoin regulation would embed the US Dollar into the global digital economy and create trillions in new demand for US treasury bonds, bills and notes – Former House Speaker Paul Ryan
— Radar🚨 (@RadarHits) May 15, 2024
Stablecoins and other digital assets are becoming more integrated into global finance, necessitating the need for regulations.
“Stablecoin regulation would embed the U.S. Dollar into the global digital economy and create trillions in new demand for U.S. treasury bonds, bills and notes.” said former House Speaker Paul Ryan
Tether’s investments in Treasury assets may continue to grow, and proper regulations to curb illegal money are necessary.
Cryptopolitan reporting by Collins J. Okoth
