The largest issuer of Tether stabilcoins will release a dollar stabilcoin focused on the American market.
In an interview for CNBC, the general director of Tether Paolo Ardoino said that the issuer would present a new “stable” coin for the United States at the end of 2025 or early 2026.
Why Tether is another stablecoin
According to Ardoino, the new stablecoin will differ from the USDT. Currently, Tether’s main asset is traded mainly outside the United States. The issuer wants to create another dollar “stable” coin that will fully meet the requirements of American regulators.
The exact dates of the launch depend on the regulatory processes, including the consideration of the Genius Act bill. He describes control mechanisms and reserve requirements for issuers. Experts believe that the adoption of this bill can greatly simplify the activities of crypto companies in the States.
Ardoino emphasized that Tether is actively working with law enforcement officers and authorities. According to the New York Times, the company general of the company met with lawmakers several times. The publication noted that he could influence their views regarding the stablecoins.
Earlier, JPMorgan analysts said that the issuer will have to sell part of their bitcoin reserves to comply with the requirements provided for in new regulatory initiatives. Then Ardoino denied everything, saying that Tether easily adapts to new conditions in the United States. However, the news of the launch of stablecoin, intended specifically for America, makes us doubt it. There is reason to believe that the company is afraid to lose a share in the world’s largest market.
In the segment of stablecoins, competition intensifies. Recently, the World Liberty Financial (WLFI), related to the family of Donald Trump, launched its own “stable” coin. The capitalization of USD1 has already exceeded $ 2 billion.
The issuer of the second largest Stablecoin USDC – Circle – is preparing to go to the exchange (IPO). This asset also enjoys the respect of regulators. According to Defillama, over the past year, the USDC market value has doubled – from $ 30 billion to $ 60 billion. The share of stabilcoin increased from 20% to 25.4%, while the USDT decreased from 69% to 61%.
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Source: Cryptocurrency
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