Tether’s U.S. Treasury Holdings Rank Seventh Globally Surpassing Canada and Taiwan

Tether, the issuer of USDt, is now the seventh-largest holder of U.S. Treasurys, surpassing countries like Canada, Taiwan, Mexico, Norway, and Hong Kong.

According to CEO Paolo Ardoino, Tether holds over $33.1 billion in U.S. Treasury securities. In comparison, the Cayman Islands, the largest single holder, has acquired more than $100 billion.

“Tether was the 7th largest buyer of U.S. Treasuries in 2024 compared to countries,” Ardoino stated in a March 20th X post.

He later clarified that jurisdictions like Luxembourg and the Cayman Islands include hedge funds in their figures, whereas Tether’s holdings represent a single corporate entity.

Tether has been increasing its investments in U.S. Treasurys to support USDt’s dollar peg, leveraging the assets' liquidity and relative safety.

The stablecoin market continues to expand, with total supply exceeding $219 billion. Analysts at IntoTheBlock suggest this indicates the market is “still mid-cycle” rather than nearing a peak.

Meanwhile, U.S. lawmakers are advancing stablecoin regulations. 

Kristin Smith, CEO of the Blockchain Association, expects legislation to be in place by August, aligning with projections from Bo Hines, executive director of the President’s Council of Advisers on Digital Assets.

“I think we’re close to being able to get those done for August. They're doing a lot of work on that behind the scenes right now,” Smith said on March 19th at Blockworks’ Digital Asset Summit 2025 in New York.

She added that bipartisan support in Congress and involvement from key House, Senate, and White House officials could help push regulations forward.