“We believe that the UK is the next frontier for blockchain innovation and the wider implementation of cryptocurrencies in financial markets,” Tether Chief Technology Officer Paolo Ardoino said in the statement. “We want to help lead this innovation by offering sterling-denominated stablecoins issued by the largest stablecoin issuers to cryptocurrency users around the world.”
While Tether has several fiat-pegged stablecoins, its dollar-pegged stablecoin USDT remains the most popular, despite recent panic over the collapse of algorithmic stablecoin terraUSD (UST) and a general market downturn Mass redemption phenomenon.
Meanwhile, USDT remains the world’s largest stablecoin, with a current total supply of over 66 billion, according to The Block’s data dashboard.
