Tether CEO Highlights Stablecoin Bill’s Potential Impact and USDt’s Global Role

In a recent Bloomberg interview, Tether CEO Paolo Ardoino discussed the implications of the stablecoin bill currently progressing through the U.S. legislative process, highlighting its potential impact on stablecoin regulation and broader financial markets.

Ardoino suggested that the stablecoin bill could provide much-needed regulatory clarity, potentially defining the role stablecoins might play in maintaining and expanding the global use of the U.S. dollar. 

He referenced Tether's longstanding presence in the stablecoin market, noting that the company launched the first widely used stablecoin, USDt, in 2014.

The CEO emphasized Tether’s significant adoption globally, particularly in emerging markets, where the USDt stablecoin has reached more than 400 million users, with the company reporting growth of approximately 40 million new wallets per quarter. 

Ardoino explained that outside the United States, the dollar is highly valued, often serving as a preferred alternative to unstable local currencies.

Ardoino clarified Tether's operational choices regarding its geographic presence, explaining why the company operates primarily outside of the U.S., despite issuing a stablecoin pegged to the U.S. dollar. 

According to Ardoino, while the U.S. has an extensive and established financial infrastructure including services such as Zelle, Cash App, and PayPal, many other regions lack reliable financial services, creating demand for digital dollars like USDt. 

He noted that approximately 3 billion people worldwide remain unbanked or underbanked, a demographic that Tether actively seeks to serve.

Additionally, Ardoino highlighted Tether's role as a significant investor in U.S. Treasury bills, holding more than $115 billion in U.S. government debt. 

This positions the company as one of the larger non-sovereign holders of U.S. Treasury securities.