USDT Adds 30 Million Wallets per Quarter, Tether Says

Tether reported that USDT is gaining more than 30 million wallets each quarter, pushing the stablecoin’s total wallet count past 550 million, CEO Paolo Ardoino said. The company said the growth has coincided with USDT’s market value approaching record highs.

Ardoino said the expansion is concentrated outside developed markets and stems largely from cross-border payments and use in developing countries. He estimated the token is used primarily for dollar-denominated transfers and payments, saying, “50-60% of USDT is cross-border trade and payments.”

The firm launched a consumer wallet app, tether.wallet, in April. The self-custodial app uses human-readable addresses and removes the need for separate gas tokens, measures Tether says are intended to simplify access for users.

On the balance sheet, USDT’s market capitalization moved toward $190 billion after Tether minted additional batches on Ethereum. For a short period, USDT’s market value was about $186.06 billion versus ether at $185.66 billion. An independent attestation for the quarter ending March 31, 2026, reported roughly $1.04 billion in net profit and excess reserves of $8.23 billion.

Tether has also increased its bitcoin holdings. The company moved 951 BTC into a dedicated reserve address in April and reported total holdings of 97,141 BTC. Tether said it is preparing for broader market work in the United States and developing a dollar stablecoin aimed at U.S. users.

Wallet counts do not represent unique individuals, since one person can control multiple addresses. At the current pace of growth, the company’s figures imply about 120 million additional wallets over the next 12 months. Market participants said the next items to watch are Tether’s Q2 attestation report, progress on its U.S. expansion, and any changes to stablecoin regulation in Washington that could affect market dynamics.