No products in the cart.
- Latest
- Trending
ADVERTISEMENT
Leading stablecoin issuer Tether (USDT) is on track to reach its goal of removing commercial paper holdings from its reserves by the end of 2022.
Office To tell The company is working to diversify its portfolio, ultimately cutting its investment in commercial paper from over $30 billion last September to zero.
Tether is proud to announce that we have completely eliminated commercial paper from our reserves. is.
Tether has eliminated over $30 billion of commercial paper losslessly. This proves how conservatively and professionally managed Tethers’ reserves are.
Commercial paper is an unsecured promissory note issued by large institutions to finance short-term debt. Tether had planned to completely eliminate its commercial paper holdings by October this year, as part of its ongoing policy. effort Increase transparency.
Reducing commercial paper to zero demonstrates Tethers commitment to backing its tokens with the safest reserves on the market. It’s a step forward.
Tether replaces its commercial paper holdings with other assets. The stablecoin issuer says his exposure to U.S. Treasury securities increased by more than $10 billion in the last quarter alone.
This announcement further ensures that Tether has a diversified portfolio with limited exposure to riskier assets. This is part of our ongoing effort to increase transparency in the stablecoin industry. As such, it demonstrates Tether’s commitment to lead by example.”
Don’t miss a beat subscribe to get encrypted email alerts delivered straight to your inbox
Price action confirmation
Please follow us twitter, Facebook When telegram
Surf The Daily Hodl Mix
 
Featured image: Shutterstock/art.disini/WindAwake
