Tether’s $5.7B YTD profit sets stage for new U.S. stablecoin in Q4
Key Takeaways
Tether eyes This autumn for U.S. market re-entry with new stablecoin choices separate from USDT. The agency’s YTD revenue surged to $5.7B with a reported $127B in Treasury payments publicity.
World’s largest stablecoin issuer, Tether, introduced that its year-to-date (YTD) revenue jumped to $5.7 billion forward of deliberate re-entry into the U.S. market.
Within the newest USDT Q2 reserve report, the issuer attributed the outstanding profitability to ‘the power of its enterprise mannequin.’
“Tether’s profitability additionally underscores the power of its enterprise mannequin. Internet revenue for Q2 2025 totaled roughly $4.9 billion, bringing the entire for the primary six months of the 12 months to $5.7 billion.”
Tether eyes U.S re-entry in This autumn
The agency had over $127 billion in U.S. Treasury payments publicity as a part of reserve backing for its international stablecoin USDT and eyed U.S. market re-entry in This autumn, in keeping with the CEO, Paolo Ardoino.
The brand new stablecoin enterprise will probably be designed for the mature and ‘extremely environment friendly’ U.S. market, added Ardoino.
“Within the upcoming quarter, Tether will deal with a brand new enterprise within the U.S, to construct a best-in-class product suite (stablecoins plus extra), designed for the precise, already extremely environment friendly, market.”
Its plan for a separate U.S.-focused stablecoin providing from the USDT is a part of the compliance push beneath the brand new stablecoin regulation, the GENIUS Act.
The Act calls for 100% backing of reserve property by Treasury payments or money equivalents, in addition to the issuer being domiciled within the U.S.
That stated, the deliberate providing may have a yield characteristic and goal principally institutional traders and gamers. In a latest Bloomberg interview, Ardoino clarified that,
“It’s (U.S. stablecoin providing) going to be targeted on the US institutional markets, offering an environment friendly stablecoin for funds but additionally for interbank settlements and buying and selling.”
Tether’s standard USDT providing has a very totally different mannequin from the brand new enterprise. It’s targeted on the ‘inefficient’ rising markets for customers searching for sooner USD rails and hedging towards native forex devaluations and inflation.
Because of this, Tether pockets all of the curiosity earned from the treasury reserves backing USDT. That is probably not the case for the upcoming enterprise.
In the meantime, the USDT market cap has hit a document excessive of $163.6 billion. This helped it to maintain a $100B lead over the second-largest stablecoin, USDC, which had a $64 billion market dimension.
Supply: CoinMarketCap
