Tether CEO ‘not worried’ about concerns over USDT competition

Tether CEO, Paolo Ardoino, rejected concerns about competition from Stablescoin.

CEO of Tether Paolo Ardoino A rejected concerns about competition in the Stablescoin market, emphasizingUSDT)) Growth of a decade and large distribution network.

Tether is currently Face regulatory challenges in Europe due to the European Union Crypto-active markets Regulations, head grants like Crypto.com and Kraken to set up USDT in the region.

In addition, Tether’s market value has decreased at a level of two years in the midst of these new regulations, which raises concerns concerning its future stability.

“So no, I’m not worried.

Speaking at the Planb Forum in Salvador and later, Ardoino contrasts Tether’s approach with that of his competitors, who rely on the capital of investors and banking incentives.

For the context, Ardoino was questioned about the competitors of Tether.

“Tether has been building one of the widest digital and physical distribution networks in humanity in the history of humanity for 10 years,” said Ardoino. “While some competitors increase investors’ capital and increase their market capitalization by paying banks to keep their stalls in the ball sheet, Tether has 100 thousand partners, building kiosks in all developing countries, platforms digital with tens of millions of users and minds. Blowing technology.

According to Ardoino, this scale has enabled the USDT to provide financial access to 400 million users on emerging markets, many of which lack traditional banking options.

Ardoino also highlighted the role of Tether in the support of the American economy thanks to the purchases of American treasury bills, strengthening the position of the dollar as a dominant global currency.

Confident in the position of the Tether market, he concluded: “So no, I am not worried.”