Applications submitted January 15
The Tether company, which produces the USDT stablecoin, has filed applications for trademark registration in Russia, as reported by RBC.
The issuer of the largest stablecoin by capitalization USDT is going to secure the right to use four names of its products in Russia: Alloy by Tether (application 2024701810), AUSDT (2024701812), Teyher alloy (2024701813) and Tether USDT (2024701814). Applications were submitted on January 12 and published in the bulletin of the Federal Service for Intellectual Property on January 15.
The market capitalization of USDT, which is the largest stablecoin in the world, is $95 billion. This coin is used on 14 different blockchains, with over $50 billion backed by the Tron network and $44 billion backed by Ethereum. USDT has become popular due to its low transaction fees.
Previously, the UN Office on Drugs and Crime noted in its report that stablecoins are increasingly being used for money laundering and participation in fraudulent schemes. Tether representatives disagreed with this and emphasized that UN experts did not take into account the company’s cooperation with authorities and law enforcement around the world. The company said it provides unprecedented monitoring beyond traditional banking systems, and that Tether tokens, which use public blockchains, allow every transaction to be closely monitored, making them an impractical choice for illicit activity.