In a recent Bloomberg TV interview, Paolo Ardoino, the CEO of Tether, shed light on the company’s promising future and the burgeoning demand for stablecoins, particularly in the wake of new legislation from the U.S. government. He believes that the Trump administration’s proposed stablecoin bill could pave the way for regulatory clarity that would significantly enhance the role of digital U.S. dollars in the contemporary financial landscape.
Ardoino articulated that this legislation stands to provide much-needed guidance on how stablecoins should be managed moving forward. He stated, “This bill would unlock very much clarity on the stablecoin role for the future of the U.S. dollar and how we should be managed in a very safe and serious way.”
Moreover, Ardoino highlighted Tether’s exceptional growth statistics, noting that the company is adding approximately 40 million new wallets each quarter, particularly from emerging markets and developing nations. This expansive growth underlines the increasing reliance on Tether’s services among populations who often find themselves without access to traditional banking systems.
In the same discussion, Ardoino elaborated on Tether’s strategic partnership with Cantor Fitzgerald. He expressed gratitude for the collaboration, which has solidified Tether’s credibility within the traditional financial sector. He remarked, “Our relationship with Cantor is strong and we are grateful to the fact that they onboarded us… The past administration in the United States just tried to almost kill crypto.”
This partnership is indicative of a growing acceptance of stablecoins in mainstream finance, showcasing Tether’s efforts to bridge the gap between the traditional financial systems and the ongoing digital revolution. When discussing Tether’s global positioning, Ardoino emphasized that outside the U.S., the demand for holding the U.S. dollar is palpable. He stated, “If you go outside the U.S. and you ask a dozen people, ‘Would you prefer to hold the U.S. dollar or your national currency?’ they will all choose the dollar.”
He elaborated on the staggering statistic of 3 billion individuals lacking access to traditional finance, pointing out that these individuals are eager for easier access to the dollar. Tether aims to serve this demographic, contributing positively to the strength of the dollar while tackling financial accessibility issues in underserved regions.
Ardoino also remarked on the geopolitical significance of stablecoins, which he believes can enhance the standing of the U.S. dollar globally. “We are building infrastructure in emerging markets, and I believe these are the last strongholds of support for the U.S. dollar,” he noted. This further emphasizes Tether’s pivotal role in the evolving financial landscape, showcasing how stablecoins like Tether could bridge the gaps between traditional and digital economies.
