Tether plans to launch a Stablecoin product in the United States at the moment, Stablecoin Issuer CEO Paul Ardoino said in an April 30’s CNBC interview.
Tether’s flagship stablecoin, USDT (USDT), is the leading “US dollar export,” Ardoino said CNBC. It has a market capitalization of nearly $ 150 billion, according to Data from coingecko.
Today, Tether is preparing to expand in the US market “by the end of this year or early next year, at the fastest,” Ardoino said, adding that the timing depends on the development of US lawmakers in Stablecoin law.
The Stablecoin Issuer is working to woo US regulators through proactively cooperating with law enforcement and highlighting USDT benefits for the US economy.
“We are just exports of what we believe is the best product created by the United States – that is, the US dollar,” the CEO said.
Related: Tether still leads Stablecoins despite the competition – Nansen
Head of the market
Until April 25, USDT ordered approximately 66% shares in the market Among the Stablecoins, according to Nansen, a web3 researcher.
Tether is also the most visible Stablecoin release, blogging a net income of nearly $ 14 billion in 2024.
It earns revenue by receiving the US dollar on Mint USDT and then investing those dollars in full liquid, instruments that carry yields such as US bills. However, USDT’s popularity is largely limited to users outside the United States, where rival Stablecoin USDC (USDC) is dominant.
Tether designed the USDT “for people living in small villages in Africa … (or) a shop in Istanbul shop,” Ardoino told CNBC, adding that Tether was forming a “diverse product” for the US.
The USDC adoption is accelerated at the end of the November election win Donald Trump, Nansen said in an April 25 report. The USDC of the Circle has a market capitalization of more than $ 60 billion, displaying coingecko data.
However, the USDT is still likely to maintain its leading position In the Stablecoin market. “Despite the potential dispersion in the stables, we inevitably believe that it is a ‘winner-take-most’ market dynamic,” the web3 researcher added.
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