Tether CEO Paolo Ardoino stated that USDT adds over 30 million wallets every quarter, with its user base now above 550 million. USDT's market capitalization climbed to about $190 billion in 2026, briefly flipping ether to become the second-largest cryptocurrency by market value. The wallet expansion is concentrated in developing countries, where Ardoino positions USDT as dollar infrastructure for cross-border trade and payments rather than a trading instrument. Tether posted $1.04 billion in net profit for the quarter ending March 31, 2026, with excess reserves reaching a record $8.23 billion, while the company holds 97,141 BTC in its bitcoin reserve.
USDT Adds 30 Million Wallets Per Quarter Across Developing Markets
Ardoino's latest growth figure is the newest in a series of adoption statistics the chief executive has shared throughout 2026. Earlier this year, he put USDT's user base at roughly 550 million people, expanding by more than 30 million new wallets every quarter. This pace translates to well over 100 million new wallets a year, concentrated in developing countries. Ardoino stated recently that 50-60% of USDT is cross-border trade and payments. The wallet growth has a balance-sheet echo, as USDT's market capitalization pushed toward $190 billion this year after Tether minted 2 billion USDT batches on Ethereum.
Tether Market Cap Reaches $190 Billion and Briefly Surpasses Ether
The stablecoin briefly flipped ether to become the second-largest cryptocurrency by market value, reaching about $186.06 billion against ether's $185.66 billion before changing positions. The company's finances have kept pace, and an attestation by accounting firm BDO showed Tether generated about $1.04 billion in net profit for the quarter ending March 31, 2026, with excess reserves climbing to a record $8.23 billion.
Tether Reports $1.04 Billion Q1 2026 Profit and 97,141 BTC Reserve
The firm has also kept stacking bitcoin, moving 951 BTC into its dedicated reserve address in April to bring holdings to 97,141 BTC, making it one of the largest corporate bitcoin treasuries in existence. Tether has been building consumer rails to match the raw wallet numbers. In April, the company launched its consumer wallet app, tether.wallet, a self-custodial application with human-readable addresses and no gas tokens, aimed at the token's hundreds of millions of users.
Tether Launches Consumer Wallet App and Plans U.S. Market Expansion
Fortune reported earlier in the year that the crypto giant now commands $187 billion in assets and is planning a significant U.S. expansion under Ardoino, including a dollar stablecoin tailored for the American market. Wallet counts are not unique individuals, as one person can hold many addresses. If Ardoino's pace holds, USDT would add roughly 120 million wallets over the next 12 months, more than the population of Japan.
FAQ
How many wallets does USDT add every quarter?
USDT adds over 30 million wallets every quarter, according to Tether CEO Paolo Ardoino. This pace translates to well over 100 million new wallets a year, concentrated in developing countries.
What was Tether's profit for Q1 2026?
Tether generated about $1.04 billion in net profit for the quarter ending March 31, 2026. An attestation by accounting firm BDO showed the company's excess reserves climbed to a record $8.23 billion during the same period.
