Demand for stablecoins on the rise…Tether reports $1 billion in first quarter operating profit

Tether, the world's largest stablecoin issuer, USDT, has surpassed $1 billion in operating profit in the first quarter of this year.
On the 1st (local time), Tether said that USDT issuance in the first quarter of this year increased by $7 billion compared to the previous quarter.
This means that demand for stable coins has increased. During the same period, the number of USDT user wallet addresses also increased by 46 million. The size of the excess reserves relative to the amount of stable coins issued is
It recorded $5.6 billion.