Tether announces its return to the U.S. market, aiming to dominate the stablecoin sector
According to Bloomberg, the world's largest stablecoin issuer Tether Holdings SA recently made a high-profile announcement regarding its return to the U.S. market, marking a strategic declaration that Tether is officially making a push into the world's most important cryptocurrency market.
The company's digital asset and U.S. strategic advisor Bo Hines publicly stated that the company is committed to replicating its successful international market experience in the U.S., aiming to become the leading stablecoin issuer in the U.S. market.
To achieve this strategic goal, Tether announced a new token initiative called USAT specifically targeting the U.S. market last week. The project is led by strategic advisor Bo Hines and launched in collaboration with well-known financial institutions such as Cantor Fitzgerald LP.
Reportedly, USAT will focus on providing instant settlement services and reducing transaction costs, aiming to meet the urgent demand of U.S. users for efficient and low-cost stablecoin solutions.
Tether's CEO Paolo Ardoino emphasized that the strong distribution network built over 11 years is the company's core advantage. Unlike competitors like Circle, which rely on revenue sharing from platforms like Coinbase, Tether has independent distribution channels and does not need to rely on external forces, giving the company a solid competitive edge.
Despite competitor Circle's recent high-profile announcement of an IPO plan, Ardoino stated that Tether has no intention of following this path. He revealed that Tether made a profit of up to $13.7 billion last year, and its strong profitability means it does not need to raise funds through an IPO. Instead, Tether plans to focus on investing in the development of new distribution channels and other business growth.
Data shows that Tether has made significant investments of about $5 billion in the U.S. market, including a $775 million investment in the video-sharing platform Rumble Inc. These investment initiatives indicate that Tether's commitment to the U.S. market is not just talk, but backed by substantial resources and long-term strategic planning.
Analysts point out that with its strong financial strength, mature distribution network, and innovative product strategies, Tether's announcement of a high-profile return to the U.S. market is expected to trigger a new wave of competition and may reshape the competitive landscape of the U.S. stablecoin market.
