Tether executives: The company is returning to the US market and aims to become the country's dominant stablecoin issuer

PANews reported on September 17th that, according to Bloomberg, Bo Hines, digital asset and US strategy advisor for Tether Holdings SA, stated that Tether is returning to the US market, aiming to become the country's dominant stablecoin issuer, replicating its success overseas. Last week, Tether announced plans for a new token, USAT , led by Hines and launched in partnership with Cantor Fitzgerald LP and others. The token aims to provide instant settlement, reduce costs, and be tailored specifically for the US market.

Tether CEO Paolo Ardoino stated that the company's advantage lies in the distribution network it has built over the past 11 years, while competitor Circle relies on revenue sharing with companies like Coinbase to expand its business. Ardoino stated that Tether does not need to rent distribution channels; it owns its own. Despite Circle's high-profile IPO announcement, Tether has no intention of following suit. The company generated $13.7 billion in profits last year and does not need to raise capital. Instead, it plans to grow through investments, such as building new distribution channels. It has already invested $5 billion in the United States, including a $775 million investment in Rumble Inc.