Tether Mints $3B in USDT

Tether, the world’s largest issuer of stablecoins, has created $3 billion worth of USDT in the last 24 hours, adding to a total of $13 billion since early November.

This increase in minting activity over month may indicate a positive outlook for the market, as demand for the stablecoin remains high. In contrast, low levels of minting from an issuer may suggest a bearish market.

Interestingly, Tether has recently expanded its business by collaborating with the government of the United Arab Emirates (UAE) to launch a new dirham-pegged stablecoin. This stablecoin is fully backed by the country’s reserves and has a value tied to the AED.

Tether sees this move as a way for the UAE to establish itself as a major global economic hub and to meet the financial needs of its market.