Paolo Ardoino, the CEO of Tether, said that the USDT, that is backed by US Dollar, could emerge as an alternative to dollar in unstable economies, by winning the trust of investors.
Taking to his official account on X (formerly Twitter), Ardoino claimed that USDT is essential for retaining purchasing power in economies that are unstable and have restricted access to banking services. By pegging its value to the U. S. dollar, USDT provides stability to those who invest in it, thus helping them to mitigate inflation and currency devaluation.
Additionally, Ardoino also touched on the global role of USDT, especially in treasury markets. Ardoino pointed to Tether’s rising role as a significant purchaser of U. S. treasury bills, demonstrating the integration of digital currencies with conventional markets.
Ardoino said, “The stability of the dollar to emerging markets with USDt, Tether to is among top 3 global buyers of short term US t-bills and top 20 in general ranking.”
Tether’s commitment of $500 million to green crypto mining, utilizing renewable energy sources, aims to solidify its market position and promote digital currency adoption, as per Ardoino.
Responding to the regulatory issues, Ardoino explained that Tether has proper compliance policies as well as adequate liquidity and also stressed that Tether is fully committed to transparency and security, noting that the company continues working to meet compliance standards across the world.
These statements by Ardoino further affirm the importance of Tether in increasing dollar demand globally, maintaining financial stability, and encouraging the use of digital currencies.
Also Read: Tether Announces New Digital Asset Launch on June 17
This news is republished from another source.
