Cryptocurrencies
Controversial Crypto Coin Tether Gains Popularity at Gambling Sites, Pot Shops
- Tether is becoming more popular to use for transactions
- Stablecoin has been beset by allegations of manipulation
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While Crypto Twitter argues over whether Tether is being used to manipulate digital-asset prices, the controversial token is quietly becoming a popular way to pay for goods and services.
At CoinPayments.net, one of the largest processors of cryptocurrency payments, Tether accounts for as much as 30% of volume. That’s up about 30 times from a year ago, according to the Cayman Islands-based firm, which claims to work with nearly 2.4 million vendors. At B2BinPay, Tether had grown to about 20% of transactions that originate from both customers and merchants. It was less than 10% a year ago, said Ievgen Iugrinov, a product manager at the Moscow-based company.