Issuer of stablecoin Tether Reduces Commercial Paper Holdings to Zero

Tether, the business that issues stablecoins, has decreased the amount of commercial paper it holds to zero.

Has replaced it with US Treasury notes, the company revealed in a blog post on Thursday.

Tether stated that the elimination of commercial papers "demonstrates Tether's commitment to backing its tokens with the most secure reserves in the industry."

According to a tweet from Tether Chief Technology Officer Paolo Ardoino earlier this month.

The company's holdings in U.S. Treasury securities made up 58.1% of its overall portfolio as of September 30, up from 43.5% at the end of June.

Tether hasn't said how much of its current portfolio is made up of U.S. Treasury bonds in its most recent post.


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