In December, Tether, the largest stablecoin by market capitalization and one of the key financial pillars of the crypto market, said it would stop issuing loans of its token by the end of 2023.
However, the stablecoin, with a market capitalization of nearly $84 billion, has increased the value of loans to customers to $5.5 billion as of June 30, compared with $5.3 billion in the previous quarter, according to the Wall Street Journal. Tether has disclosed very little about who's borrowing its tokens or what those borrowers use as collateral.
