Tether's $183 Billion Bet on Bitcoin
Tether's plan to issue USDT on Bitcoin via RGB Protocol is set to reshape crypto liquidity by 2026. The move could change how dollars sit, travel, and are sourced across exchanges, market makers, and payment corridors.
According to CoinMarketCap data, around 25 September 2026, USDT's market cap was about $183.71 billion, with circulating supply near 183.77 billion tokens and 24-hour volume near $82.9 billion. If a meaningful share of that dollar stock can move natively on Bitcoin, order books, funding routes, and cross-venue inventory can change.
The RGB plan is not just a technical homecoming but also a bid to pull part of the world's stablecoin float onto Bitcoin rails. This could give Bitcoin a liquid dollar that can compete with the rails currently housing most USDT inventory.