On June 15, Paolo Ardoino, CEO of Tether, wrote in a post on X that, according to WSJ, "stablecoins backed by the US dollar provide demand for US Treasury bonds." More than 300 million people around the world use USDT as a digital dollar, providing life infra utilities to entire communities in developing countries. These people are underserved by the banking industry, most remain unbanked, and are affected by high inflation and rapid depreciation of their local currencies. Tether brings the stability of the dollar to emerging markets through USDT, and is also one of the top three global buyers of US short-term treasury securities (T-bill), ranking among the top 20 overall.