Alongside record profits, USDT issuer Tether also reported Friday it now holds over $143 billion in reserve assets to back the stablecoin.

Stablecoins like USDT are increasingly popular for everyday uses like payments, remittances and savings, and Tether's expansion aims to spur activity to the Bitcoin-based ecosystem.

Tether announced the integration of USDT with Bitcoin's base layer and Lightning Network using Taproot Assets protocol, enabling faster transactions and expanding payment possibilities while maintaining Bitcoin's security features.

Tether, which claims to be one of the largest companies in the digital assets industry, announced the integration of USDt into Bitcoin’s ecosystem.

Tether Holdings Ltd., the stablecoin issuer that was pulled into the spotlight this week during the confirmation hearing for Donald Trump’s pick to run the Commerce Department, said it made an eye-popping $13 billion in profits last year.