Tether (USDT) issuer has removed commercial paper from backing the stablecoin, replacing with US Treasury Bills.
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The company announced on Thursday in a press release that by reducing commercial papers, it wants to demonstrate its commitment to "backing its tokens with the most secure reserves in the market." The company said:
"This is a step towards even greater transparency and trust, not only for Tether but for the entire stablecoin industry."
Tetner emphasized that it had reduced its exposure to commercial paper holdings "without any losses." As of September 30, Tether held below $50 million in commercial paper holdings.
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