Tether, the issuer of the USDT stablecoin, has reported a 13% increase in its user base during the first quarter of 2025, highlighting the growing demand for digital dollar alternatives in emerging markets. CEO Paolo Ardoino attributes this growth to USDT’s role in providing financial services to unbanked populations and its integration into various sectors beyond traditional stablecoin operations.
The company now serves over 400 million users globally, with approximately 35 million new wallets added each quarter. This expansion is particularly notable in regions with limited banking infrastructure, where USDT offers a stable medium for savings and transactions. Ardoino emphasizes that USDT functions as a “bridge” in these markets, facilitating access to the US dollar and supporting local economies.
Tether’s influence extends beyond user adoption. The company is among the top three global purchasers of short-term US Treasury bills, holding approximately $90.87 billion in such securities as of March 31, 2024. This significant investment underscores Tether’s role in the global financial system and its commitment to backing USDT with substantial reserves.
In addition to its stablecoin operations, Tether is diversifying its portfolio through investments in artificial intelligence and other emerging technologies. The company plans to launch an AI platform by the end of Q1 2025, signaling its intent to compete with established tech giants and expand its offerings beyond the cryptocurrency space.
Despite its growth, Tether faces regulatory scrutiny and challenges in various jurisdictions. The company has been proactive in addressing these concerns by enhancing its compliance measures and increasing transparency regarding its reserves and operations. Ardoino has dismissed allegations of Tether’s involvement in illicit activities as unfounded, emphasizing the company’s commitment to regulatory compliance.
Arabian Post – Crypto News Network
