TETHER, the largest stablecoin transmitter in the world with more than $ 143 billion in traffic, is preparing to enter the American domestic market with new stablecoin in PIE. With this new launch, Tether plans to compete directly with key players in the American Stablescoin market such as the World Liberty Financial supported by the Trump family and its USD1 part.
Attach to compete with USD1
CEO Paolo Ardoinino revealed these plans during a CNBC interview at the Token2049 conference in Dubai. According to the CEO, the stablecoin will be launched by the end of 2025. He also mentioned that Stablecoin focused on the United States would be different from its USDT international offer. Its launching calendar depends on “the calendar of final legislation”.
The landscape of Stablecoin is becoming more and more competitive while Tether is preparing to challenge the World Liberty Financial's USD1, an initiative of Stablecoin supported by Eric Trump and Donald Trump Jr. Eric Trump was quite vocal on the crypto and even declared that the crypto could replace the rapid payment system.
Tether's planned entry into the US domestic market is a major decision because the regulatory environment changes under the current administration.
World Liberty Financial has already announced its USD1 token, which promises to be entirely supported by short -term US good government, deposits in US dollars and other cash equivalents. The token is initially planned for the launch on Ethereum and Binance Smart Chain.
Tether’s American market entry follows Ardoino's increased presence in Washington, where he joined meetings with legislators and participated in cryptographic industry events. This approach, characterized by some as a charming offensive, includes a private lunch with Senator Bill Hagerty and various networking activities with political influencers.
Tether mentioned legal cooperation as a central element of his messaging to American decision -makers. “There is no business … Even in the traditional financial system, which has such collaboration with the police,” said Ardoine during his interview.
Why the company's American launch could be good news for the crypto
TETHER's objective to enter the American market can create a more competitive cryptocurrency ecosystem, more transparency and renowned financial support. Joining Ardoino underlined the force of finance and operational transparency of the company as an advantage, creating new standards of the industry possible.
The Stablecoin transmitter has made significant developments on previous issues revolving around reserves. According to the most recent Tether certificate report, the company said it now had around $ 120 billion in US treasury bills; And total assets amount to at least $ 149.27 billion with $ 143.68 billion in liabilities – creating at least a surplus of $ 5.6 billion.
Tether's partnership with Cantor Fitzgerald to supervise his treasury bills gives the company a certain institutional credibility. Ardoino took care to avoid a potential conflict of interest by declaring that he does not speak directly to the Lutnick secretary because of the “appropriate walls”, but said that Tether has “excellent relations with many people in the United States and also now in Washington”.
The company's quarterly growth measures also show increasing adoption, with around 46 million new USDT portfolios created during the last reference period. This is an increase of 13% compared to the previous quarter. This is an indication of the growing confidence of users despite past regulatory challenges. This includes a regulation of $ 18.5 million with the New York Attorney General in 2021 for allegations concerning false statements on its reserves.
According to Ardoino's recent tweet, he expects a 10x projection to Tether over the next five years. He mentioned that attachment products could reach nearly 3 billion people. Stablecoin growth could also be good news for crypto, because 37% of world users use the USDT for savings, with an average daily volume of 30 billion.
Vignesh Karunanidhi
Vignesh Karunanidhi is a seasoned crypto journalist with almost 7 years of experience in the cryptocurrency industry. He has contributed to numerous publications, notably Watchuru, Beincrypto, Milkroad, and the author of more than 10,000 articles
Warning: The content presented may include the author's personal opinion and is subject to the market state. Do your market studies before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
✓ Share: