Tether-Issued Stablecoin USDT Market Dominance Grows As Market Cap Surpasses $118 Billion

Stablecoins, cryptocurrencies whose price is meant to be tied to a real-world asset such as a national currency or gold, are key pieces of plumbing for the crypto market, serving as a bridge between fiat money and digital assets. They are increasingly popular for non-crypto activities in emerging regions such as Latin America and Southeast Asia, with uses ranging from dollar savings, cross-border payments and transactions, a new report by venture capital firm Castle Island and hedge fund Brevan Howard Digital.