Tether, the leading stablecoin issuer, plans a major market entry into the U.S. using the recently passed GENIUS Act during Trump's presidency. CEO Paolo Ardoino stated that Tether's strategy will focus on institutional markets, offering $USDT for payments, interbank settlements, and trading. This move marks the company's comeback after stepping back in 2021 when Tether paid nearly $60 million in fines due to regulatory issues. With a trading volume of over $162 billion, USDT remains the dominant stablecoin, significantly ahead of $USDC from Circle ($64.7 billion).
Ardoino emphasized Tether's technological advantage and deep understanding of the market, despite short-term competition from American companies. Tether is also working to enhance transparency by collaborating with the Big Four auditing firms to conduct a full audit of its reserves, which is a step towards regulatory compliance. The company's strategy in the U.S. includes launching a new, fully regulated stablecoin for institutional clients, which could change global finance.
This move aligns with Tether's broader vision to strengthen its position in the global market. Stay tuned for updates and join #MiningUpdates to keep informed!
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