TLDR
- Tether has partnered with Rumble to launch a crypto wallet featuring USAT stablecoin and other digital currencies.
- The new wallet, set to launch later this year, will cater to Rumble’s 51 million active monthly users.
- Tether owns a 48% stake in Rumble after investing $775 million in 2024, strengthening its influence over the platform.
- USAT is a dollar-backed stablecoin designed to comply with American regulatory standards and aims to serve the US market.
- Tether plans to raise up to $20 billion by selling a 3% stake, with funds directed towards artificial intelligence initiatives.
Tether Holdings SA has partnered with Rumble Inc. to promote the adoption of its newly launched USAT stablecoin. This collaboration will see the launch of a Tether-powered crypto wallet on Rumble, featuring USDT and other stablecoins. The wallet is scheduled for release later this year, offering a new way for Rumble users to interact with cryptocurrency.
Tether’s Influence on Rumble’s Growth
Tether has a significant stake in Rumble, owning 48% of the company. In 2024, Tether invested $775 million into Rumble, gaining substantial influence over the platform. Rumble, a YouTube alternative with a conservative-leaning audience, attracts 51 million active users per month, according to Tether CEO Paolo Ardoino.
Ardoino sees this as a massive opportunity for Tether. “Rumble’s user base is already large, and this partnership will help us expand adoption in the US,” he said. Tether’s involvement in Rumble presents an opportunity for both companies to capitalize on the growing interest in cryptocurrency among conservative viewers in the US.
The launch of a crypto wallet on Rumble could change the way users interact with digital assets. By offering USAT and other stablecoins, Rumble users will have access to secure, regulated digital currencies. This new development will also give Tether a competitive edge in the stablecoin market.
USAT Stablecoin Gains Traction with Tether’s Support
The USAT stablecoin is designed to comply with American regulatory standards. As a dollar-backed stablecoin, USAT aims to serve the US market and attract users seeking a stable digital asset. Tether’s investment in Rumble plays a key role in promoting USAT’s use among Rumble’s vast user base.
Bo Hines, former Executive Director of the White House Crypto Council, is the CEO of USAT. Hines has political roots in North Carolina, where the USAT team will be based. The launch of USAT is expected to gain significant traction, especially with the backing of Tether and the potential for broader adoption through Rumble.
The US stablecoin sector is experiencing rapid growth. The GENIUS Act, passed in July, created a federal framework for dollar-backed stablecoins, further boosting Tether’s confidence in USAT’s success. This legal framework has prompted several companies to expand operations, and Tether’s partnership with Rumble positions it well for the future.
Tether’s plans extend beyond the launch of USAT on Rumble. The company is considering raising to $20 billion by selling a 3% stake, which could value Tether at nearly $500 billion. Proceeds from this raise will support Tether’s AI initiatives, including the development of a new AI platform for low-cost smartphones.
Tether is hiring specialists to develop AI-powered applications, including an offline language translation app for developing regions. This project will focus on areas with limited internet connectivity, such as Africa and South America. Tether’s move into AI reflects the company’s long-term vision for growth and technological innovation.
