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Tether, the issuer of the world’s largest stablecoin, USDT, is preparing to launch a U.S.-focused stablecoin product as early as this year. CEO Paolo Ardoino announced the plan during an April 30 interview with CNBC, emphasizing that the timing depends on the progress of U.S. lawmakers in establishing stablecoin regulations.
Currently, USDT boasts a market capitalization of nearly $150 billion, commanding approximately 66% of the stablecoin market share. While USDT is widely used internationally, its adoption within the United States has been limited, with competitors like Circle’s USDC gaining more traction domestically.
Ardoino highlighted Tether’s proactive collaboration with U.S. regulators and law enforcement agencies, including the FBI and Department of Justice, to align with forthcoming regulatory frameworks. He also noted Tether’s significant holdings in U.S. Treasury assets, positioning the company as a major player in supporting the U.S. dollar’s global presence.
The planned U.S.-specific stablecoin aims to cater to domestic users, differentiating from USDT’s current focus on international markets. This initiative aligns with the Trump administration’s efforts to promote crypto innovation and establish the United States as a leader in the digital asset space.
