News

Tether’s New Community Organization Aims to Boost USDT’s Global Use

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  • Tether’s community has launched a new organization dubbed ‘Tether Impact’
  • Tether Impact’s role will be to support and incentive the use of USDT in emerging economies and DeFi Dapps
  • The organization will be hosting its first meetup in Paris, tomorrow, July 19th
  • Stablecoins continue to gain popularity with the US Secretary of the Treasury, Janet L. Yellen, convening a meeting tomorrow, to discuss their potential benefits and risks

The Tether community has reportedly launched a new non-profit organization aiming ‘to be the bridging point between Tether and its users’. The new organization known as Tether Impact will also raise awareness and educate the various crypto communities on any ongoing initiative centered on USDT.

Tether Impact to Support and Incentivize Users in Emerging Economies

According to the Tether Impact website, the community-run organization will place a particular emphasis on incentivizing the use of USDT in emerging economies as explained in the following statement

Tether Impact is a Community-Run, Non-Profit, independent organization that will interact with the Tether and Crypto Ecosystem in order to support and incentivize Tether use in third world countries, emerging economies and Decentralized Finance DApps.

Tether Impact’s First Meeting to Be in Paris, Tomorrow, July 19th

Furthermore, the first Tether Impact community meeting will be held tomorrow in Paris. The meeting was announced by crypto community member @DanieleSesta through the following tweet.

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Get ready for some exciting news!

If you are in @EthCC Paris this Monday between 17:00 and 19:00 make sure to come to our first official event together with @CurveFinance and @zksync ! https://t.co/L7QlWq8Kez

— Daniele McDonald’s 🌙🐕🧊🧙‍♂️ (@danielesesta) July 18, 2021

Stablecoins are Gaining Popularity, Janet Yellen To Convene A Meeting to Discuss Their Benefits and Risks

News of the USDT community launching Tether Impact comes at a time when stablecoins are gaining popularity to the point of attracting the attention of global regulators. With respect to the latter, the US Secretary of the Treasury, Janet L. Yellen, will be hosting a meeting tomorrow, Monday July 19th, with several regulators in the USA.

According to the press release by the US Department of the Treasury, the meeting will be attended by the President’s Working Group on Financial Markets (PWG), the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation.

Secretary Yellen went on to provide the following statement explaining the urgency of the meeting.

Bringing together regulators will enable us to assess the potential benefits of stablecoins while mitigating risks they could pose to users, markets, or the financial system.

In light of the rapid growth in digital assets, it is important for the agencies to collaborate on the regulation of this sector and the development of any recommendations for new authorities.

[Feature image courtesy of Pixabay]

Souced by Ethereum World News

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