Tether CEO Paolo Ardoino Says USDT Is the ‘Most Successful Tool for US Dollar Hegemony’

Tether CEO Paolo Ardoino says USDT will help to successfully keep the US dollar on top of the global financial power structure.

In a new post to the social media platform X, Ardoino makes his argument for why USDT is the “most successful tool” for the US dollar maintaining its hegemony.

“Tether built, over the last decade, the widest physical and digital distribution network, spacing from thousands of kiosks in Africa and South America to digital remittances platforms, from payment backbones to institutional tools.

Every single day our teams and portfolio companies are with their boots on the ground in countless areas within developing countries, helping communities and growing utilization, trust and education into USDT and by reflection into the US economy.”

Ardoino notes that USDT is held by more than 400 million people, growing at a pace of 35 million new wallets per quarter, or 140 million new wallets per year. He also says USDT is doing especially well in developing countries.

Tether’s success, says Ardoino, has come at the price of a target on their back.

“While our competitors’ business model should be to build a better product and even bigger distribution network, their real intent is ‘Kill Tether.’

Every single business or political meeting that they have culminates with this intent.

While might seem an overstatement, it’s a fact and it’s being reported independently by hundreds of people inside and outside the digital assets industry in touch with the US administration.”

The CEO frames any competitors’ attacks on the stablecoin firm as an attack on the sovereignty of the US dollar. And according to Ardoino, Tether is the 18th largest US dollar holder by the size of US treasuries.

Generated Image: Midjourney