Tether’s Expansion Driven by Worldwide Demand for U.S. Dollars
Paolo Ardoino, the CEO of Tether, shared his insights on the future of stablecoins and the effects of new White House legislation.
During a Bloomberg TV interview on Thursday, Ardoino noted that the recently proposed stablecoin bill by the Trump administration could provide much-needed regulatory clarity and enhance the role of digital U.S. dollars.
“This bill would unlock significant clarity regarding the future role of stablecoins for the U.S. dollar and how we should manage them safely and effectively,” Ardoino stated.
He pointed out that Tether has achieved impressive growth, especially in emerging markets and developing nations, where approximately 40 million new wallets are created each quarter.
Collaboration with Cantor Fitzgerald
Ardoino also highlighted Tether’s strategic alliance with Cantor Fitzgerald.
“We have a strong relationship with Cantor, and we appreciate their decision to onboard us,” he mentioned.
He elaborated that Cantor performed extensive due diligence on Tether prior to permitting them to hold U.S. Treasury bills.
“The previous U.S. administration attempted to nearly eliminate crypto,” Ardoino remarked, underscoring the significance of Cantor’s trust and collaboration. This partnership enhances Tether’s credibility in the traditional financial arena, indicating a gradual acceptance of stablecoins within mainline finance.
Why Tether is not U.S.-based
When questioned about Tether’s decision not to base itself in the United States, Ardoino cited the global demand for U.S. dollars.
“If you go outside the U.S. and ask a dozen people on the street, ‘Would you prefer to hold the U.S. dollar or your national currency?’ they would all choose the dollar,” he explained.
He further articulated that there are 3 billion individuals “lacking access to traditional systems” and are “eager” for easy access to the dollar. Tether has strategically positioned itself to fulfill this demand, thus bolstering the dollar’s strength abroad while offering financial solutions to underserved communities.
Stablecoins and their global impact
Ardoino discussed the geopolitical significance of stablecoins and their potential positive effects on the strength of the dollar.
“We are developing infrastructure in emerging markets, and I believe these are the last bastions of support for the U.S. dollar,” he stated.
This illustrates Tether’s strategic focus on reinforcing the dollar’s global presence while tackling financial accessibility issues in underserved regions.
Ardoino’s perspective highlights Tether’s critical role in the changing financial landscape, where stablecoins are set to bridge the divide between traditional and digital economies.