USDT Now Serves 500 Million Users: Paolo Ardoino

Tether CEO Paolo Ardoino has announced that the USDT stablecoin serves 500 million users ￰0￱ milestone marks Tether’s and USDT’s growing influence in the digital finance ￰1￱ has attributed USDT’s growth to strong global demand and increased adoption in emerging markets, primarily for remittances and everyday financial ￰2￱ Hits 500 Million Users Tether CEO Paolo Ardoino has revealed that USDT now serves 500 million users ￰3￱ attributed this growth to global demand and widespread adoption in emerging ￰4￱ has been making efforts to expand its presence in emerging markets where USDT is used in remittances and ￰5￱ has also expanded its efforts to promote grassroots adoption of USDT, engaging with communities to integrate the stablecoin into everyday ￰6￱ efforts significantly boosted USDT circulation, cementing its importance in underdeveloped and underserved regions of the ￰7￱ believes direct engagement with local communities has helped ensure USDT adoption beyond centralized exchanges and apps.

USDT’s presence has grown in Africa, Southeast Asia, and Latin ￰8￱ use in retail payments and peer-to-peer transfers has also maintained steady growth. A New Dollar-Backed Stablecoin Tether is also planning to launch a new dollar-backed stablecoin for the US ￰9￱ Hines, CEO of Tether’s US arm, confirmed the company will not be raising any external funds for the ￰10￱ stated that the company will issue new equity instead, and existing investors will retain their ￰11￱ is also planning to raise $20 billion at a $500 billion valuation, representing 3% of the ￰12￱ raise would make Tether one of the world’s most valuable firms alongside SpaceX and ￰13￱ has reported a record Q2 profit of $4.9 billion, significantly higher than its previous record of $4.54 ￰14￱ company is also one of the largest holders of US government debt.

meanwhile, on-chain data reveals the USDT supply at around $182 billion, followed by Circle’s USDC at $75 ￰15￱ stated, “Programmable money is the ultimate social network. A peer-to-peer construct that transports both information and value.” GENIUS Act Expands USDT Presence Tether’s latest milestone comes following decisive steps by the US government to establish stablecoin regulation through the GENIUS ￰16￱ was one of the crypto executives present when President Donald Trump signed the stablecoin legislation, creating a federal regulatory framework for fiat-pegged ￰17￱ GENIUS Act requires stablecoins to be fully backed by ￰18￱ or similarly liquid ￰19￱ also mandates an annual audit for stablecoin issuers with a market capitalization of over $50 ￰20￱ new legislation has led several banks to contemplate launching their own ￰21￱ financial institutions, including JPMorgan, Bank of America, Citigroup, and Wells Fargo, could launch their own stablecoin and threaten Tether’s dominance in the stablecoin market.

However, while Ardoino conceded that new competitors may surpass Tether in the short term, it has better technology and a better understanding of the stablecoin market than its competitors. “Tether has better technology and understands the market deeply.” Regulatory Pressures As mentioned earlier, the GENIUS Act requires stablecoins with a market capitalization of over $50 billion to undergo regular audits. However, Tether still lacks a full audit from PwC or ￰22￱ has said that a full audit from one of the Big 4 remains a key priority. However, for now, Tether relies on quarterly attestations by BDO ￰23￱ also faces several challenges in Europe following the EU's passing of the MiCA regulations for digital ￰24￱ new regulation instructed exchanges across Europe to stop offering stablecoins that do not comply with the new rules by April ￰25￱ new rules impacted USDT since it did not meet MiCA’s regulatory requirements.

Disclaimer: This article is provided for informational purposes ￰26￱ is not offered or intended to be used as legal, tax, investment, financial, or other advice.