Tether Hits 500 Million Users as Stablecoin Supply Climbs to $182 Billion

- Tether's USDT stablecoin surpasses 500 million users globally. - The company explores a $500 billion valuation and unveils plans for a new U.S.-specific stablecoin, USAT. On October 21, 2025, Tether's USD-pegged stablecoin, USDT, reached a significant milestone by surpassing 500 million users worldwide. Its total supply is nearing $182 billion, reinforcing USDT’s status as a dominant player in the cryptocurrency market. According to a report from The Block on October 21, Tether is discussing a $20 billion private placement, with Cantor Fitzgerald advising the company on the deal. These talks point to a potential $500 billion valuation for the stablecoin issuer, reflecting its expanding role in a rapidly growing industry. In addition, Tether unveiled plans to launch USAT, a stablecoin tailored for the U.S. market, a move that responds to rising regulatory scrutiny on stablecoins in the region. Anchorage Digital, a regulated entity, will issue USAT, while Cantor Fitzgerald will serve as the custodian for its reserves. To lead this initiative, Tether appointed Bo Hines, a former White House crypto official, as CEO of its U.S. division. As of 15:08 UTC on October 21, Tether USDt (USDT) traded at $1, with a -0.037% change in its 24-hour volume. Updated data shows USDT holds a fully diluted market cap of $185.07 billion, while its trading volume also increased by a noticeable 12.03% over the past 24 hours.