USDT has seen daily volumes of more than $500 million in small-value transfers, defined as transactions under $1,000, underscoring its use as a practical digital payments rail. The concentration of these micro-transfers suggests USDT serves as a common medium for everyday transactions rather than solely large settlements.
In Q2 2025, Tether’s exposure to US Treasurys surpassed $127 billion, with $105.5 billion held directly and $21.3 billion indirectly, positioning it among the leading holders of US government debt. USDT is handling daily micro-transfers exceeding $500 million, with each transfer under $1,000, underscoring its role as a practical digital payments rail. The clustering of these small-value moves indicates USDT serves as a common medium for everyday transactions rather than solely large settlements.
In Q2 2025, Tether’s exposure to US Treasuries surpassed $127 billion, with $105.5 billion held directly and $21.3 billion indirectly, positioning it among the leading holders of US government debt. The combination of widespread micro-transfers and substantial Treasuries exposure highlights USDT’s evolving role in both daily payments and reserve management. Market participants and regulators may monitor liquidity, risk, and transparency as stablecoins integrate further into the financial system.
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