TLDR
- Tether CEO Paolo Ardoino confirmed that USDT now serves 500 million users worldwide.
- USDT has become widely used in emerging markets for remittances and everyday financial transactions.
- Tether plans to launch a new U.S. dollar-backed stablecoin called USAT for the American market.
- The company is raising $20 billion at a valuation of $500 billion, making it one of the most valuable private firms globally.
- Tether reported a record net profit of $4.9 billion in the second quarter of 2025.
- The U.S. GENIUS Act requires stablecoins, such as USDT, to undergo annual audits and be fully backed by liquid assets.
Tether CEO Paolo Ardoino announced that USDT now serves 500 million users globally. This milestone marks Tether’s growing influence in the digital finance sector. The company attributes this growth to strong global demand and increased grassroots adoption in emerging markets.
Tether Pushes Stablecoin Adoption Worldwide
Tether has aggressively expanded into developing economies, focusing on improving remittances and daily financial transactions. USDT has gained popularity in markets with unstable local currencies and limited banking access. As Ardoino stated, “USDT proves that stablecoins can drive real-world financial inclusion.”
The company collaborates directly with local communities to promote the adoption of stablecoins in everyday commerce and cross-border transactions. These efforts helped boost USDT circulation and cement its role in underserved regions. Tether believes such direct engagement ensures adoption beyond centralized exchanges and apps.
As a result, USDT’s presence has become more prominent in Latin America, Africa, and Southeast Asia. The stablecoin’s use in retail payments and peer-to-peer transfers continues to grow steadily. Tether remains focused on reaching unbanked populations worldwide.
USAT Launch and $20 Billion Fundraising Effort
Tether plans to launch a new dollar-backed stablecoin, USAT, designed for the United States market. Bo Hines, CEO of its U.S. arm, confirmed the company won’t raise external funds for this project. Instead, new equity will be issued, and current investors will retain their shares.
Separately, Bloomberg reported Tether aims to raise $20 billion at a $500 billion valuation. The raise would reflect only 3% of the company’s equity and place Tether among the world’s most valuable private firms. This move signals growing investor interest in the company’s stablecoin dominance.
Tether has already reported a record Q2 profit of $4.9 billion, surpassing its previous high of $4.52 billion. The company remains one of the largest holders of U.S. government debt. Its financial strength continues to attract global attention amid increasing regulatory scrutiny.
Regulatory Pressure Mounts as Competition Grows
Tether welcomed the U.S. GENIUS Act, which creates a federal regulatory framework for stablecoins. Ardoino attended the signing alongside President Donald Trump. The law requires stablecoins of over $50 billion to undergo annual audits.
However, Tether still lacks a full audit from major firms like Deloitte or PwC. Ardoino said that obtaining one remains a key priority. For now, the company relies on quarterly attestations by BDO Italia.
Meanwhile, traditional banks, including JPMorgan and Citigroup, are entering the stablecoin space. They aim to challenge Tether with their own digital assets. Ardoino acknowledged the threat but stated, “Tether has better technology and understands the market deeply.”
Europe’s MiCA Rules Disrupt Tether’s Presence
Tether faces challenges in Europe following the EU’s MiCA regulation for digital assets. These rules take full effect by April 2025. Exchanges must delist stablecoins that fail to comply, including USDT.
The European Securities and Markets Authority allowed USDT use until March 2025 under a transitional clause. Since then, several exchanges have removed USDT trading pairs. Tether’s market share dropped from 70% to 60% over the course of one year.
Despite this, Tether continues to explore regulatory pathways in compliant jurisdictions. The company is evaluating structural changes to meet the requirements of MiCA. Meanwhile, its focus remains on non-EU markets, which have higher adoption potential.
Ardoino insists that Tether’s long-term strategy remains strong. He believes the company will adapt quickly while retaining its global user base. The stablecoin remains dominant in many key financial regions despite European challenges.
