Tether, one of the largest stablecoin issuers, is actively developing a strategy to enter the U.S. market. CEO Paolo Ardoino discusses the new regulatory landscape and challenges ahead.
Tether's Plans for the U.S. Market
According to Paolo Ardoino, Tether is actively working on a strategy aimed at institutional clients in the United States. More details about the initiative are expected to emerge in the coming months.
Challenges for Tether
On July 18, U.S. President Donald Trump signed the GENIUS Act, which aims to regulate stablecoins. The new rules require issuers with a market capitalization over $50 billion to undergo a full audit of their reserves annually. Currently, Tether provides only quarterly confirmation reports from BDO Italia. The company should also anticipate increasing competition from major banks, such as JPMorgan and Bank of America, which plan to issue their own stablecoins in the U.S. market. Ardoino emphasized that this competition will not be a problem for Tether: "They’re going to be serious competitors and maybe better than us in the U.S. in the short term, simply because it’s a new market for us. But we have better technology and a deeper understanding of the industry than anyone else."
Cooperation with Regulators
On July 24, Tether assisted U.S. authorities in freezing $1.6 million in USDT linked to a financial network suspected of financing terrorism. Over the past year, Tether has frozen a total of $2.9 billion in USDT related to illicit activities, supporting 275 agencies across 59 countries. Ardoino noted, "The transparency of the blockchain and our ability to quickly respond to abuse are our strengths. Unlike traditional financial systems, where illicit flows often go undetected, USDT is transparent and accountable."
Tether continues to advance its strategic initiatives in the U.S. market despite new challenges and competition. Whether the company can successfully adapt to legislative changes and maintain its position will unfold over time.
