According to BlockBeats, on June 21, Tether is expected to achieve $7.4 billion in EBITDA by 2025. If we refer to the current valuation multiple of 69.3 times for the publicly listed stablecoin issuer Circle (the parent company of USDC), Tether's potential valuation could reach as high as $515 billion. Currently, USDT has a market capitalization of about $155 billion, with a global user base of 420 million, covering emerging markets and high-inflation countries, and is widely used for savings and payments.
Tether CEO Paolo Ardoino stated that USDT has become the most practical dollar alternative for users in countries like Turkey and Argentina, and has established offline service points in regions like Africa to promote stablecoin payments. Additionally, Tether is investing in agriculture, AI, and brain-computer interfaces to build the future digital economy infrastructure.
Meanwhile, Circle (CRCL.US), which just listed on the US stock market, has issued USDC, currently with a market capitalization of about $45 billion. Although it has stronger compliance, its market share is still far below that of USDT. As the Stablecoin Innovation Act progresses in US legislation, the competitive landscape for stablecoins may undergo a new round of changes.
