Tether CEO Paolo Ardoino has recently announced a significant increase in the number of users during the first quarter of 2025. This surge in adoption comes amidst the ongoing volatility in the broader crypto market.
In a recent post on X, Ardoino revealed that the number of USDT users had risen by 13% during this period. While he did not specify the exact figure, it is worth noting that Tether’s global user base had already reached around 400 million. The majority of this growth has been observed in emerging markets such as Argentina, Brazil, and Nigeria, where USDT serves as a digital dollar offering a stable store of value and a reliable alternative to volatile national currencies.
Tether’s stablecoin has played a crucial role in countries facing economic challenges like hyperinflation and limited access to traditional banking services. For many individuals in these regions, USDT provides a convenient way to store and transfer money without relying on traditional banking systems that may exclude them.
Furthermore, the market cap of Tether’s stablecoin continues to rise, consistently breaking new all-time highs and currently standing at $144 billion.
Looking ahead, Tether is gearing up to expand its presence in the US market. Ardoino mentioned in a recent podcast with Scott Melker that the company is considering launching a new stablecoin domiciled in the US. This new product would adhere to upcoming American regulatory frameworks and cater specifically to institutional use cases.
Unlike USDT, which primarily serves individuals in underbanked regions, the US-focused stablecoin would be tailored for payments and institutional finance. Ardoino highlighted the different financial behaviors of US users who typically rely on savings accounts and T-bills, compared to users in countries like Turkey where local currencies have experienced significant depreciation against the dollar.
Addressing critics who speculated that Tether would avoid entering the US market, Ardoino emphasized the company’s commitment to establishing a presence in the US. He stated, “Now we want to play in the US, and we want to demonstrate that we can also be great and be the best in the US.”
With these developments on the horizon, Tether continues to solidify its position as a leading player in the stablecoin market, catering to a diverse range of users and expanding its offerings to meet the evolving needs of the crypto ecosystem.