15 Januari 2026
Tether CEO Paolo Ardoino recently told Bloomberg that the company is open to developing a separate domestic stablecoin to meet the needs of the U.S. market. The news comes as the United States works on stablecoin legislation called the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act).
As the largest international issuer of stablecoins, with USDT As a flagship product, Ardoino indicated that Tether will adhere to the GENIUS Act, although the primary market for USDT will still be emerging economies. He noted that these markets have the greatest need for their services, saying, “We believe in the importance of USDT as the most widely adopted digital dollar across all emerging markets.”
Additionally, Ardoino indicated that plans for a domestic stablecoin in the US are “closer to the second half” of the playing field, indicating that Tether is already taking active steps in this direction.
According to the World Bank, there are approximately 1,4 billion adults worldwide who lack access to banking services, mostly in emerging economies in sub-Saharan Africa and parts of Asia. Meeting the needs of these people, who lack access to traditional financial systems, is Tether’s core mission, Ardoino said.
In emerging markets, stablecoin users primarily use USDT for overseas remittances and to preserve the value of their savings amid local currency devaluations. Ardoino stated that 37% of USDT users use the stablecoin for savings purposes, with over 420 million users in developing countries. He added: “The unbanked adults need something that provides stability in their lives, and that is the US dollar in digital form, which is USDT.”
However, the needs in the US are different from those in emerging markets. Tether argues that stablecoins are also of great importance in the US, but that the range of available payment methods there requires a more competitive approach. Ardoino explained: “In the US, you wouldn’t use stablecoins for payments to improve the efficiency of our money.”
Consequently, Tether plans to launch a domestic stablecoin that will be “competitive” within the US economy, with unique features that differentiate it from USDT, Ardoino added.
Ardoino has expressed his keen interest in how the US government regulates stablecoins, saying, “It’s important for us to see how the GENIUS Act differentiates between foreign and domestic issuers.”
Tether intends to ensure that USDT complies with the requirements of the GENIUS Act, which Ardoino describes as better than the MiCA regulations in Europe. Tether's concern with MiCA lies in the fact that it requires stablecoins pegged to the US dollar to hold 60% of their reserves as cash deposits in European countries. couches, which he called a “bad idea.”
The GENIUS Act requires stablecoin issuers to hold 100% of their reserves in cash equivalents, preferably U.S. Treasuries, a move Ardoino calls “a great idea.”
Ardoino doesn’t anticipate any complications in meeting the GENIUS Act’s requirements, regardless of whether Tether positions itself as a foreign or domestic issuer. However, he stressed the need for clear regulation before they can move forward with their domestic stablecoin: “Overall, we believe it’s important that the domestic issuance of Tether’s U.S. stablecoin has clear regulation.”
On May 19, the U.S. Senate voted to invoke cloture to advance the GENIUS Act. A final vote is expected after Congress' Memorial Day recess.
What is the GENIUS Act?
The GENIUS Act is a proposed law in the United States that provides guidelines for the regulation of stablecoins, including conditions for reserve requirements and legislation for national stablecoin issuers.
Why are stablecoins important in emerging markets?
Stablecoins like USDT are often used for remittances and as a store of value, especially in countries with unstable local currencies. This provides users with financial stability and access to international markets.
What are the key differences between USDT and Tether's new domestic stablecoin?
The new domestic stablecoin will likely have unique features and functionalities that better suit the specific payment needs of the US market, as opposed to USDT's current focus on emerging economies.
In conclusion, Tether’s plans for a domestic stablecoin illustrate the evolving role of digital currencies across markets. Expected developments in U.S. regulation could have a significant impact on the future of stablecoins and broader digital financial solutions.
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