USDT: A Lifeline for Inflation-Stricken Nations, says Tether CEO

According to Tether CEO Paolo Ardoino, the main goal of the world’s largest stablecoin, Tether USD (USDT), is to assist individuals in economies facing inflation in protecting their purchasing power. Ardoino revealed in an exclusive interview with that Tether’s primary focus is on aiding the unbanked population without access to traditional banking by providing them with access to USDT. He stated that USDT is a tool that supports individuals living in neglected regions who have little interest to the banking industry due to their impoverished status.

With inflation on the rise, people in developing economies are increasingly seeking alternative financial options, such as the US dollar. Ardoino highlighted the urgency of this issue in Argentina, where the national currency has depreciated by 98% against the dollar. He emphasized that for Argentinians, purchasing the US dollar is a priority and explained how USDT serves as a valuable tool in this context. In order to enhance safety, Tether intends to have a 100% reserve in T-bills in the near future, in addition to their existing reserves in gold and Bitcoin.

Tether stands as the largest stablecoin globally, boasting a market capitalization of over $109 billion, significantly surpassing the second-place contender, Circle’s USDC, with a market cap of $33 billion. Ardoino attributes Tether’s success to their ability to meet the needs of individuals who require access to financial services and the US dollar. In contrast, other stablecoin issuers primarily target the legacy banking industry as their customers, despite these industries already having efficient access to the dollar through credit cards, debit cards, and banking rails.

Ardoino went on to emphasize that stablecoin usage in Europe and the United States is dwindling, nearing zero. Consequently, Tether remains committed to prioritizing its service to the unbanked population around the world. He stressed that individuals residing in emerging markets are the most reliant on stablecoins and require stability in order to confidently redeem their holdings for $1.

To ensure the highest level of security compliance, Tether successfully completed the System and Organization Controls 2 (SOC) audit, widely regarded as the ‘gold standard’ security audit, on April 1st.

Tether’s CEO Paolo Ardoino outlined the primary objective of Tether USD (USDT) as providing individuals in inflation-ridden economies with a means to safeguard their purchasing power. By focusing on serving the unbanked population and prioritizing their need for financial stability, Tether has emerged as the largest stablecoin on the global market. In contrast to other stablecoin issuers, Tether aims to cater to individuals who lack access to traditional banking services rather than targeting the already well-served legacy banking industry. Future plans include expanding the reserve to be 100% in T-bills, furthering Tether’s commitment to stability and security.

7 thoughts on “USDT: A Lifeline for Inflation-Stricken Nations, says Tether CEO

  1. Tether’s plans to expand their reserve in T-bills seem like a desperate attempt to gain credibility. It won’t work.

  2. Kudos to Tether for their dedication to serving individuals in developing economies and providing them with a tool to protect their purchasing power. They are truly making a difference in people’s lives.

  3. Tether’s increasing market capitalization is a result of their manipulative tactics, not genuine value.

  4. Tether’s successful completion of the SOC audit shows their commitment to security and compliance. Investors can trust in the highest level of safety when using Tether.

  5. Tether’s focus on aiding the unbanked population and providing access to the US dollar is crucial in today’s world. It’s great to see a company with such a noble mission. 💪🌍

  6. Tether’s focus on emerging markets seems more like a desperate attempt to increase their profits than a genuine effort to help the unbanked. 🤑

  7. Tether’s claims of prioritizing financial stability are hollow. It’s all about their own bottom line. 🚫

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