Tether CEO Paolo Ardoino is confident that USDT will play a crucial role in maintaining the dominance of the US dollar in the global financial power structure. In a recent post on social media, Ardoino highlighted the significance of USDT as a tool for ensuring the continued hegemony of the US dollar.
Ardoino emphasized that Tether has built an extensive physical and digital distribution network over the past decade, spanning from thousands of kiosks in Africa and South America to digital remittances platforms and payment backbones. This wide-reaching network has contributed to the growing adoption and trust in USDT, ultimately benefiting the US economy.
With over 400 million people holding USDT and a steady increase of 35 million new wallets per quarter, Ardoino pointed out that the stablecoin is particularly successful in developing countries. However, Tether’s success has not gone unnoticed, as Ardoino acknowledged that the company has become a target for competitors who seek to undermine its position in the market.
Ardoino raised concerns about the intentions of Tether’s competitors, suggesting that their ultimate goal is to “kill Tether.” He claimed that every business or political meeting involving competitors inevitably leads to discussions about dismantling Tether. This perceived threat to Tether’s existence is viewed by Ardoino as an attack on the sovereignty of the US dollar.
Moreover, Ardoino revealed that Tether is the 18th largest holder of US dollars by the size of US treasuries, underscoring the company’s significant impact on the US financial system. Despite facing challenges from competitors, Ardoino remains steadfast in his belief that Tether’s role in supporting the US dollar’s supremacy is crucial.
As Tether continues to navigate through competitive pressures and external scrutiny, Ardoino’s unwavering commitment to upholding the US dollar’s position as a global powerhouse remains resolute. With USDT playing a pivotal role in facilitating global financial transactions, Tether’s impact on the US economy is undeniable. Subscribe to stay updated on the latest developments in the world of digital assets and financial markets.
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