Tether CEO Paolo Ardoino has reaffirmed the company’s strong market position amid increasing competition in the stablecoin sector. Speaking at the PlanB Forum in El Salvador and later addressing concerns on social media, Ardoino emphasized that Tether has spent the past decade building an extensive global distribution network. Tether CEO On The Competitive Stablecoin Market In a lengthy post on the X platform, Tether CEO Paolo Ardoino addressed questions about the company’s ability to maintain its lead in the stablecoin sector. He pointed out that while competitors rely on investor funding and bank incentives, Tether has focused on expanding its reach. According to Ardoino, Tether has developed a widespread network with hundreds of thousands of partners. This includes building kiosks in developing countries and establishing digital platforms with millions of users. He stated that this extensive distribution network has been a key factor in the success of the USDT stablecoin. Tether CEO added, “The scale of our network is just different. This is the reason why USDT has been so successful in empowering 400 million users in emerging markets giving them access to the global financial system through the stablecoin USDT.” Similarly, the USDT issuer has been expanding its reach through various tech innovations, recently launching the AI SDK platform to integrate artificial intelligence into crypto applications. Built on the Bare JavaScript runtime, the platform supports AI translation, voice assistants, and Bitcoin wallet assistants, enhancing transaction efficiency. USDT and Financial Access in Emerging Markets Ardoino highlighted the role of the USDT stablecoin in providing financial access to users who lack traditional banking services. He noted that Tether’s infrastructure has empowered millions of people across emerging markets. He emphasized that billions of individuals remain underserved by banks. Tether aims to continue expanding its reach to ensure that more people have access to USDT stablecoin. More so, Tether entered the UAE market through its partnership with Reelly Tech, enabling over 30,000 real estate agents to facilitate property transactions using USDT. This collaboration enhances transaction speed and security, reducing reliance on traditional banking systems.  Additionally, the partnership includes an educational initiative to train agents on integrating stablecoins into real estate deals. Strengthening the U.S. Economy During his speech, Ardoino also discussed Tether’s contribution to the U.S. economy. He explained that the company’s investments in U.S. Treasuries help reinforce the U.S. dollar’s dominance. Tether CEO stated that by purchasing U.S. Treasuries, the company supports economic stability while maintaining USDT as a widely used digital asset. He indicated that this strategy benefits both Tether and the broader financial system. Moreover, a recent Bloomberg report revealed that the stablecoin issuer is increasing its deals in the US with the new Trump administration. USDT stablecoin’s growing investments, including a $775 million stake in right-wing social media company Rumble, indicate its expanding influence. With over $7 billion in excess reserves, the firm is accelerating dealmaking, leveraging its massive profits from US Treasury holdings. Despite regulatory challenges and competition in the stablecoin industry, Ardoino remains confident in its long-term success. He asserted that he is not concerned about rival stablecoins. The post Tether CEO Explains Why USDT Is Still Ahead Of Competitors appeared first on CoinGape.

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