Stablecoin issuer Tether has announced that it is resetting its commercial securities.
Announcing the announcement on its blog page, the company announced that it has reduced commercial securities to zero and replaced them with US treasury bills.
“Reducing trades to zero demonstrates Tether’s commitment to backing its tokens with the safest reserves on the market”
Commercial papers are unsecured debts issued by companies, in which the value of the bill depends on the issuing company. Commercial securities are less stable than US Treasury bills.
Tether previously announced that it would cut its commercial securities to zero by the end of the year due to growing concerns about USDT.
The company announced in October that its commercial paper assets had fallen below $50 million.
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