Paolo Ardoino, CEO of Tether, claims that four economies heavily depend on USDT for domestic and foreign trade: Venezuela, Argentina, Bolivia and Turkey. Bolivia’s central bank now publishes its own USDT reference rate, calculated from peer-to-peer transactions observed on Binance. Chainalysis measured nearly $1.5 trillion in cryptocurrency flows in Latin America between July 2022 and June 2025, including $93.9 billion for Argentina, $44.6 billion for Venezuela and $14.8 billion for Bolivia. USDT supply in circulation reached a record $188 billion in April, with over 570 million claimed users as of Q1 2026. However, USDT remains a claim on the issuer, with no deposit insurance or lender of last resort.
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