Tether CEO announces the launch of a new stablecoin in the United States

01.05.2025 - 13:00

442

3 min

What’s new? Tether CEO Paolo Ardoino has said in an interview with CNBC that the company is preparing to launch a new product in the United States early next year. The exact timing will depend on the progress of legislation to regulate stablecoins, which is already pending in Congress.

Material by CNBC

What else is known? Ardoino also stated that the USDT stablecoin issued by Tether is one of the most successful US export products. The asset ranks third in the overall ranking of cryptocurrencies by market capitalization, behind only bitcoin and Ethereum with over $148,7 billion. Its share in the total capitalization of the stablecoin sector exceeds 60%.

Currently, both houses of the US Congress are considering bills to regulate stablecoins, known by the acronyms STABLE and GENIUS. They would classify issuers as financial institutions, require issuers to hold reserves separately from their own funds, and tighten enforcement of AML laws.

Earlier, Tether launched 21 Capital, a company that will accumulate bitcoin and offer investors access to the first cryptocurrency through its own shares. The launch partners were broker Cantor Fitzgerald and SoftBank Holding.

21 Capital will launch with a capital of 42 000 BTC, most of which will be contributed by Tether, which will take a major stake. Strike creator Jack Mallers has been appointed CEO of the new firm.

Tether will deploy its entire hashrate in Bitcoin Core developer’s OCEAN mining pool

The collaboration aims to increase decentralization of the blockchain

Last year, Tether launched four business units: Tether Data to develop and strategically invest in innovative technologies, Tether Power to mine bitcoins, Tether Edu to launch global education courses, and Tether Finance to offer financial services, including USDT management.

In April, Tether invested in cryptocurrency payment company Fizen to increase the availability of stablecoin payments in emerging markets.s

Author: