Up To US$ 5.5 Billion In Tether Could Be Loaned
Posted on 10/13/2023
Tether stablecoins are available for lending once again, despite company statements the practice would end. US$ 5.5 billion is being loaned. The practice was supposed to end this year. Tether is considered one of the strongest crypto assets due to its wide use and peg to the dollar. However, experts predict the loans will not be available in future years. Longstanding partners requested the loans, suggesting that newcomers may not be able to enjoy the same deal.
Tether is the most well known stablecoin. It comes from the company Tether Limited Inc. Tether Limited has minted the USDT stablecoin on ten protocols and blockchains. Tether is pegged to the dollar at US $1.00 per token. Tether Limited is owned by the Hong Kong-based company iFinex Inc., which also owns the Bitfinex cryptocurrency exchange. Tether Limited maintains the services of Britannia Bank & Trust, a privately-held Bahamas bank, to process its dollar transfers.
