Tether Records Increase in Stablecoin Lending Despite Previous Phase-Out Plans

Despite announcing plans in December 2022 to phase out stablecoin lending, Tether has reported an increase in this category for 2023. According to their recent quarterly statement, the cryptocurrency giant recorded $5.5 billion in loans on June 30, a slight bump from the $5.3 billion in the preceding quarter. A representative from Tether attributed this increase to short-term loan demands from longstanding trusted partners. This representative also confirmed the companys intention to completely cease such loan practices by the end of 2024. Historically, Tethers stablecoin loans offered...

source: https://tokenpost.com/Tethers-Stablecoin-Loans-Rise-Despite-Plans-to-Phase-Them-Out-10709

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