Tether CEO reports rising USDT adoption in Venezuela, Argentina, Bolivia, and Turkey driven by currency devaluation and cross-border trade demand.
DeFi & Yields ·
Tether CEO Paolo Ardoino stated on Aug. 23 that the stablecoin USDT is experiencing rising adoption across Venezuela, Argentina, Bolivia, and Turkey, according to reporting. Ardoino attributed the growth to conditions in these markets, including devaluation of local currencies, scarcity of dollars, and regulatory constraints on financial activity.
The CEO cited distinct applications emerging in each country. In Venezuela, traders are deploying USDT to settle imports and exports. Bolivia has seen the stablecoin take hold in commercial payment flows. Argentines are using it for peer-to-peer trading, while Turkish users are turning to it as a hedge against inflation. These uses span both domestic transactions and trade that crosses borders.
What remains unclear is the scale of this adoption—whether measured by transaction volume, user count, or merchant uptake—or whether these trends represent sustained shifts or early-stage activity. No on-chain metrics or adoption benchmarks were provided to quantify the scope of the expansion.