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Tether now ranks among the world's top holders of US government debt after its Treasury bill investments reached 【$127 billion】 this quarter — exceeding South Korea's $124.2 billion holdings. The stablecoin issuer's latest attestation report reveals $105.5 billion in direct Treasury exposure plus $21.3 billion in indirect holdings, marking a $7 billion quarterly increase.
This advancement follows Tether's May milestone when it surpassed Germany's Treasury position. ——"Our Q2 performance proves accelerating market trust,"—— stated CEO Paolo Ardoino, who celebrated the achievement on social media. The company now trails Saudi Arabia's $127.7 billion by less than 1%.
Tether's growing debt portfolio coincides with 【19% year-to-date growth】 in its USDT stablecoin, now valued at $163.6 billion. The firm issued $26 billion new USDT tokens in 2025 alone, reflecting surging demand for dollar-pegged crypto assets. Notably, this positions the digital asset company ahead of several G20 nations including Brazil and Norway in Treasury ownership.
The massive Treasury reserves serve dual purposes: backing USDT's stability while establishing Tether as a macroeconomic force. Industry analysts note the portfolio generates substantial yield — reported net profits reached 【$4.9 billion】 last quarter. This financial muscle could reshape stablecoin regulations as policymakers scrutinize the sector's growing influence on traditional finance systems.
As of Thursday's report, Tether's Treasury position equals approximately 1.4% of outstanding US debt held by foreign nations. This unprecedented crossover between crypto and sovereign finance comes as traditional institutions like JPMorgan increasingly embrace blockchain-based dollar instruments. Market observers suggest Tether's next milestone could see it overtaking Middle Eastern oil economies in Treasury ownership within 2025.