Paolo ArdoinoVerified account

Some have claimed this to be common in China though. Maybe that's enough.

yeah it's pretty regional--in US and Japan there's pretty good support for fiat exchanges, but outside of them it's way harder.

I wouldn’t say it’s just US and Japan. I’d definitely add South Korea and the EU. But you are righ that everything else is not as developed

Now the question is whether, once we largely exclude US, Japan, SK, EU and probably others, Tether being a gateway to buying BTC with outside funds is a compelling enough story to explain the observations. To me it is not clear, perhaps possible, but certainly not obvious.

I am on your side. It’s mainly for China and Russia (and perhaps sanctioned countries) and people that seek lenient KYC

People doing market making, ie arbitrage trading across exchanges use tether, because it is faster and more reliable than wires. And time is money in arb trading.

Agree although I presume this usecase will gravite towards USDC, PAX and TUSD in the long term

"and people that seek lenient KYC" do you have a chart for that?