Tether Reaches 500M User Milestone

The video shows how stablecoins continue to evolve, especially within mobile payments for developing countries. Kenya faces increased adoption of stablecoins by merchants, business owners and ordinary citizens as the Kenyan Shilling continues to lose value and face uncertainty from domestic government and economic policies. Since 2020, it is estimated that in Kenya prices have increased by 36% and decreased in value by 26%.

As one person in the video pointed out, instead of having to find buyers for a currency in a WhatsApp group chat or via unofficial channels, individuals can simply rely on USDT transfers to safely send and receive their balances. With around $56B average daily transfer volume, 35% of users choose to use it for regular savings.