Tether (USDT) Replaces SWIFT for USD Operations of Xapo Bank: Details

Following the integration of USD Coin (USDC), Gibraltar's Xapo Bank becomes the first-ever fintech in the world to employ U.S. Dollar Tether (USDT) infrastructure for moving U.S. dollars between its accounts. The integration is compatible with MiCA requirements, the team highlights.

Timeline of Tether

Tether, the company operating the blockchain-enabled platform tether.to that powers the first and most “widely used” stablecoin, has reportedly “surpassed its previous all-time market cap high of $83.2B set in May 2022.

OKX released the 7th reserve certificate, and the number of publicized coins has increased to 22. Users' BTC assets decreased by 4.1% compared with April, with a decrease of 5,264 BTCs.

Over the past year, the market dominance of stablecoins pegged to the United States dollar has undergone significant changes. While some stablecoins have experienced a downward trend, USDT has risen to its all-time high, according to data from CoinGecko.

Executives from Tether and Blockchain.com both commented on the U.S. government's potential upcoming debt default on May 25. Tether is not at risk, CTO says Tether CTO Paolo Ardoino said that it is unlikely that the U.S. will default on its debt in the coming weeks.

Tether, the issuer of USDT, which has received criticism for an alleged lack of transparency in its reporting, is partnering with a Georgian university to educate people about blockchain and freedom-promoting technology.

Despite lackluster trade volume and price movements in the cryptocurrency market, Tether's market cap is rising, nearing its all-time high of $82.9 billion. Tether, also known as USDT, is a stablecoin pegged to the U.S. dollar, making its value more stable than other cryptocurrencies.

Quick Take This month, the USDT attestation report for Q1 2023 showed it held $53 billion worth of U.S. treasuries. If Tether were a country, it would be the 25th largest holder of U.S. treasuries.

In a groundbreaking move that is set to transform the landscape of digital payments, Tether (USDT), the world's largest stablecoin, is set to be integrated into Strike, a leading global money app.

Digital payment platform Strike announced on Monday it integrated Tether's USDT (CRYPTO: USDT) stablecoin into its services. With Tether's inclusion, Strike intends to streamline digital transactions and strengthen its industry standing.

Tether and the payment app Strike are working in conjunction. With Strike's addition of Tether to its app, users in a growing number of jurisdictions will be able to use the USDT stablecoin as a method of payment.