Tether, a US dollar-pegged stablecoin, reaches 500 million users, providing financial inclusion to those excluded by traditional banking. This milestone represents around 6.25% of the world’s population, according to Tether. The World Bank Group estimates 1.4 billion adults lack bank access globally, making crypto a potential solution for financial inclusion.

Celebrating the achievement, Tether shares a documentary on USDT adoption in Kenya, where stablecoins are used for survival, not speculation. 37% of USDT users hold the stablecoin as a store of value, benefiting small businesses to pay for imports and stay afloat in high-inflation economies.

With a market cap of $182.4 billion, Tether dominates the stablecoin market with a 58.4% share, followed by Circle’s USDC at $76.8 billion. Tether is in talks with investors to raise up to $20 billion, potentially valuing the company at $500 billion, making it one of the most valuable private companies globally.

Read more at Cointelegraph: Tether’s USDT Stablecoin Reaches 500 Million Users