Tether Plans U.S. Expansion with New Stablecoin Amid Strong Market Performance and Strategic Investments
By: coinspeaker|2025/05/02 23:15:02
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CoinspeakerTether Plans U.S. Expansion with New Stablecoin Amid Strong Market Performance and Strategic InvestmentsStablecoin issuer Tether plans to launch a new dollar-pegged stablecoin based in the United States that will comply with domestic regulatory requirements. This new stablecoin is expected to operate independently from the existing USDT.Tether’s CEO, Paolo Ardoino, announced the development at Token2049 Dubai, revealing that the company is actively working with U.S. regulators to release a fully compliant stablecoin either later this year or in 2026. According to CNBC, the upcoming stablecoin will be tailored specifically for the U.S. market and will differ from Tether’s international offering.Now on stage at #TOKEN2049 Dubai:Paolo Ardoino, (@paoloardoino ) CEO of Tether, delivers his keynote:“Tether — A Once-in-a-Century Company”Innovation, resilience, and unstoppable progress. pic.twitter.com/slsU4jmcOg— Tether (@Tether_to) May 1, 2025Last year, reports emerged that Tether was under investigation by authorities for alleged links to criminal activities. In response, billboards appeared in Times Square, New York, accusing the stablecoin issuer of being the next FTX.Before this, Tether faced scrutiny over the transparency of its reserves. In 2021, the company reached an $18.5 million settlement with the New York Attorney General following allegations that it had misrepresented the assets backing its stablecoin. Since then, Tether has begun publishing independent assurance reports and has maintained significant holdings in U.S. Treasury securities, managed by the well-known financial firm Cantor Fitzgerald.Tether’s CEO strongly criticized the 2024 investigation reports, stating that the company was actively collaborating with law enforcement to track down criminals who misuse cryptocurrencies, including USDT.What Does This Mean for Tether?The proposed U.S.-based stablecoin is expected to provide Tether with a strategic entry point into the American market, especially in light of the GOP-backed GENIUS Act. This legislation permits Tether and other foreign stablecoin issuers to operate in the U.S. if they collaborate with law enforcement and comply with regulatory frameworks.Amid this evolving regulatory environment, Tether’s CEO has reportedly become a frequent presence in Washington. Paolo Ardoino is said to have participated in numerous private meetings and social gatherings with lawmakers and key figures in the crypto industry.Tether has been performing exceptionally well, with key highlights released at Token2049 Dubai, showcasing the company’s progress as of March 31, 2025. At the event, it was revealed that the company had issued a staggering 143.6 billion USDT and recorded an average daily volume of $30 billion, underscoring its prominence in the crypto space.Tether just released the attestation for Q1 2025, the first quarter under the regulatory supervision in El Salvador.Highlights as of 31st March 2025:* 143.6B total issued USDt.* 149.3B total assets/reserves.* 5.6B excess reserves, on top of the 100% reserves in liquid assets... https://t.co/Dqay27kus7 pic.twitter.com/RiOVi31qxs— Paolo Ardoino (@paoloardoino) May 1, 2025In addition to its impressive market performance, Tether has been making strategic investments to further solidify its position. The firm recently invested in Fizen Limited to support self-custody and stablecoin payments. The investment reflects Tether’s commitment to maintaining a healthy portfolio diversification strategy as it looks toward future growth.nextTether Plans U.S. Expansion with New Stablecoin Amid Strong Market Performance and Strategic Investments
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