Tether CEO Paolo Ardoino has emphasized the critical role of USDT (CRYPT: USDT) in providing dollar access to emerging markets, highlighting Tether’s growing impact in purchasing U.S. government debt.
What Happened: “We created the first stablecoin in 2014, and it’s an honor to think that after 11 years, the most powerful country in the world is now going to craft a law on a technology that we created,” Ardoino told crypto analyst Scott Melker in a podcast published on Sunday.
The CEO described his meetings with U.S. lawmakers as surprisingly positive, noting they were “very receptive” to understanding how stablecoins promote dollar adoption globally.
Ardoino emphasized the stark contrast between stablecoin use cases in the US versus emerging markets, noting that in countries like Turkey or Argentina, where national currencies have collapsed, stablecoins provide essential financial stability.
Regarding potential US regulation, Ardoino expressed confidence that lawmakers would avoid creating monopolies for traditional banks.
“It would be very anti-American,” he said, noting that U.S. officials primarily want to ensure that foreign stablecoin issuers collaborate with U.S. law enforcement.
Ardoino further highlighted that Tether was the seventh-largest purchaser of U.S. Treasuries last year: “If you remove Cayman, Luxembourg and UK…we would be the fourth largest purchaser of U.S. Treasuries,” he stated.
What’s Next: Looking to the future, Ardoino predicted stablecoins could reach a trillion-dollar market cap through either global economic instability or technological advancement.
“If the more the world will be in unrest, the more the stablecoin market will grow,” he predicted, adding that AI and robotics could drive massive adoption as “robots will use stablecoins” for programmatic transactions.
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