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Tether Holdings Ltd., the largest digital asset company, is venturing into the tokenization of stocks, bonds, funds, and commodities with its new platform, Hadron. Launched recently, Hadron enables users to convert various assets into stablecoins and digital tokens backed by collateral. The company aims to attract businesses and governments as its primary customers.
Tether Holdings Ltd., the issuer of the largest stablecoin, reported a net profit of $2.5 billion for the third quarter, primarily due to gains from US Treasuries and gold. The market value of its USDT token has surged to nearly $120 billion amid increased demand during the crypto bull market. Tether also noted it holds over $6 billion in excess reserves.
Cryptocurrencies experienced a decline following reports of a US investigation into Tether Holdings Ltd. for potential violations of sanctions and anti-money-laundering regulations. The scrutiny has impacted Tether’s USDT token, which is designed to maintain a one-to-one peg with the dollar, causing it to drop to approximately 99.81 cents.
Tether Holdings Ltd. has proposed to Turkish officials the use of digital assets to transform the country's boron market. The stablecoin issuer suggested creating digital tokens representing borate minerals and establishing a digital-asset exchange in Istanbul, aiming to integrate blockchain technology into the commodity sector.
Tether Holdings Ltd.
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