Tether Targets US Market With New Stablecoin Launch by Year-End
Crypto News
Jamie Redman
Report: Tether Targets US Market With New Stablecoin Launch by Year-End
During a CNBC interview, Paolo Ardoino, Tether’s chief executive, disclosed that the firm intends to introduce a new stablecoin for the U.S. market this year.
Report: Tether Targets US Market With New Stablecoin Launch by Year-End
Tether Preps U.S. Stablecoin Launch, CEO Says It Outpaces TradFi in Enforcement
Commanding the world’s largest stablecoin, with $148.94 billion in circulation, Tether has plans to launch yet another stablecoin crypto asset. Speaking with CNBC at the Token2049 conference in Dubai, Ardoino noted the launch is slated for year-end 2025.
“A domestic stablecoin would be different from the international stablecoin,” Ardoino explained to CNBC. “It depends on the timeline of the final legislation… but we are looking at that by the end of the year, or early next year at the fastest,” the Tether CEO added.
While Tether has expanded its footprint, fiat-pegged crypto-asset rivals are eager to capture a slice of its market. USDC, the second-largest stablecoin, has seen its market cap climb to $61.38 billion, and yield-bearing assets and tokenized Treasury funds have multiplied over the past year.
During his CNBC interview this week, Ardoino stressed Tether’s rigorous compliance and asserted that no other company has worked with law enforcement as extensively. “There is no company… even in the traditional financial system, that has such a breadth of collaboration with law enforcement,” the Tether CEO said.
Ardoino added:
We are always trying to do better and more to block criminal activity…. we have much better tools than the traditional financial system and we’re proving that everyday.
Tether’s foray into a U.S.-regulated market demonstrates a bold ambition to synchronize regulatory compliance with cutting-edge innovation, promising to redefine stablecoin dynamics. The company’s CEO did not divulge how the U.S.-based stablecoin would distinguish itself from its flagship U.S. dollar-backed stablecoin USDT.
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