Tether CEO Paolo Ardoino has revealed the company's plans to maintain its focus on overseas markets, even as the U.S. continues to develop its stablecoin legislation. In an interview with Bloomberg, Ardoino stated that Tether is closely monitoring the implementation of the Genius Act, particularly how it will impact foreign stablecoin issuers. Despite the ongoing regulatory developments in the U.S., Tether remains committed to expanding its presence in international markets. Ardoino acknowledged that the company may launch a stablecoin that complies with the new regulations to attract institutional investors. Tether is in discussions with a major accounting firm, known as one of the Big Four, to conduct a full audit of its reserves. When asked about the potential competition from bank-issued stablecoins, Ardoino expressed confidence in Tether's position in the market. He pointed out that Tether's user base consists of the 3 billion unbanked people worldwide, who rely on the stablecoin for access to financial services. This demographic provides Tether with a unique advantage over traditional bank-issued stablecoins. Overall, Tether's CEO emphasizes the company's commitment to innovation and adaptability in the face of evolving regulatory landscapes. By maintaining its focus on overseas markets and exploring compliant stablecoin options, Tether aims to solidify its position in the global financial ecosystem.
