Tether (USDT) has emerged as the preferred currency for salary payments and savings on the European crypto banking platform Brighty throughout 2024. The latest “Crypto Earners’ Money Habits” report shows that USDt dominated crypto deposits with an astounding 85% share far surpassing other stablecoins like USD Coin which captured just 5%.

Remarkably USDt also secured a strong position as a savings asset with 33% of business-to-customer savings trailing only the euro. The prominence of USDt particularly in its TRC-20 form issued on the Tron blockchain is mainly due to its lower transaction fees. According to the report over 60% of USDt transactions on Brighty benefited from these reduced costs.

Despite potential regulatory challenges under the European Markets in Crypto-Assets framework Tether’s USDt continues to hold significant appeal among crypto users. The survey accompanying the report highlights that 70% of participants prefer using crypto for its lower fees signaling a robust future for USDt in digital transactions.