Tether, the issuer of the world’s largest stablecoin USDT, has officially entered the top 20 global holders of U.S. Treasuries.
With $127 billion in U.S. government debt, Tether now ranks as the 18th largest holder worldwide, according to data compiled by Messari and the U.S. Department of the Treasury as of May 2025.
This puts Tether ahead of countries like South Korea, the UAE, and Germany, highlighting just how much influence the stablecoin giant has accumulated within traditional financial markets. For comparison, Germany—the world’s fourth-largest economy—currently holds less U.S. debt than Tether does.
The bulk of Tether’s reserves backing USDT are invested in short-term U.S. Treasuries, which are considered low-risk, highly liquid assets. This growing portfolio strengthens the company’s claims of transparency and stability, particularly amid increasing regulatory scrutiny on stablecoins.
