Tether Will Reduce its Commercial Paper Holdings to Zero
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The collateral portfolio of stablecoin Tether (USDT) does not contain securities issued by Chinese companies. Its issuer has promised to reduce the share of commercial paper from the current $3.7 billion no later than November.
Tether CTO Paolo Ardoino has said that a year ago, commercial paper in USDT reserves reportedly amounted to $30.8 billion. In a month, the position in them will be reduced to about $200 million.
However, he has not provided supporting documents for the current composition of the stablecoin collateral.
The initiative is a commitment to the community to build a diversified risk-limited portfolio across individual issuers or assets, according to the issuer’s website.
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