USDT Issuer Tether Eliminates Share of Commercial Paper in Stablecoin Collateral

Tether Limited, the issuer of the dollar-backed stablecoin USDT, has completely removed commercial paper from the asset’s collateral and has replaced them with US Treasury bills.

According to the company, it has made the decision as a commitment to greater transparency and increased trust not only for Tether, but for the stablecoin segment as a whole.

The firm has recalled it publishes quarterly reports on the composition of USDT reserves.

The position in commercial paper fell below $50 million on October 3. In August last year, it was $30.8 billion, or 49% of the stablecoin’s total reserves.

The company first announced its plans to change the composition of USDT collateral in May.