Tether Nears Surpassing Germany in U.S. Treasury Holdings Amid Record $244B Stablecoin Market, GENIUS Act Vote Looms – Crypto News – Crypto News
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Tether Nears Surpassing Germany in U.S. Treasury Holdings Amid Record $244B Stablecoin Market, GENIUS Act Vote Looms Tether Nears Surpassing Germany in U.S. Treasury Holdings Amid Record $244B Stablecoin Market, GENIUS Act Vote Looms

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Tether Nears Surpassing Germany in U.S. Treasury Holdings Amid Record $244B Stablecoin Market, GENIUS Act Vote Looms – Crypto News

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Tether, a major player in the cryptocurrency market, is on the verge of surpassing Germany in its holdings of U

Tether, a major player in the cryptocurrency market, is on the verge of surpassing Germany in its holdings of U.S. Treasury securities. This development comes as the stablecoin market cap reaches a new all-time high, with over $244 billion in U.S. dollars now tokenized.

Approximately 1.1% of the entire U.S. dollar supply is currently tokenized as stablecoins, with 0.55% of that on Ethereum, highlighting their growing significance in the financial ecosystem. This tokenization is seen as a critical supply sink for U.S. debt, as it converts demand for liquid, digital U.S. dollars into demand for U.S. Treasuries.

The U.S. Senate is poised to vote on the GENIUS Act, which could position the U.S. as a leader in the future of money and financial infrastructure. The act is expected to open the door for trillions of dollars to flow through stablecoins, potentially benefiting cryptocurrencies like Ethereum, which holds a 65% market share in stablecoins, and Solana. The UK has already surpassed China in U.S. treasury holdings, and stablecoins are seen as a way to put USD in phones globally.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.

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