Peso aims to make USDT more practical for daily spending through merchant services and banking integrations, as Tether continues backing Latin American fintechs.
Three wallets tied to a brokerage took in $575 million in USDT in spring 2025, and the Senate report says Tether did not freeze any of them.
Tether faces Senate scrutiny after a report questioned Iran-linked wallet freezes and referrals raised potential sanctions and banking-law violations.
Tether CEO Paolo Ardoino says Iran-linked USDT volumes fell 94% after the company froze wallets tied to the country's financial networks.
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