The Global Ambitions of the King of Stablecoins: An Interview with Tether CEO Paolo Ardoino

The king of the stablecoin world, Paolo Ardoino, has ambitious plans for Tether's continued growth and dominance. With the landmark stablecoin bill in the United States about to be passed, the next battleground for stablecoins will shift from the crypto market to real-world payment settlement scenarios.

Ardoino believes that stablecoins have distinctly different application scenarios in the United States and other parts of the world. The United States is one of the markets with the highest efficiency in capital flow globally, and the introduction of stablecoins can improve efficiency from 90% to 95%, with limited premium space. In contrast, the introduction of stablecoins in other regions can increase financial efficiency by 30%-40%. There are still 3 billion people globally without bank accounts, while Tether currently covers 450 million users, presenting a huge opportunity.

Tether is not only technically advanced but has also established an unprecedented dollar distribution network globally. Their deep investments in infrastructure across Asia, Africa, and Latin America, along with this innovative distribution channel and deep penetration into emerging markets, are key to Tether's leadership.

Ardoino revealed that less than 40% of Tether's market value is related to the cryptocurrency market, with over 60% of the growth coming from grassroots usage in emerging markets. The next driver of USDT's market value growth may come from commodity trading. Users are not interested in the blockchain itself; they only care about keeping costs low, almost to zero.

Tether Ventures' investment strategy is diversified, covering traditional financial assets, emerging technologies, and global marketing opportunities. They have invested in various fields such as blockchain, artificial intelligence, agriculture, and football clubs. Ardoino emphasized that distribution is a key factor in evaluating investments.

Regarding Bitcoin, Ardoino expressed his fondness for it, believing it is simple yet has fulfilled its mission. He envisions the Bitcoin main chain becoming the settlement layer for Lightning Network-style channels or serving as the underlying layer for some very important contracts.

Ardoino believes that Tether has many benefits for the United States: bringing financial inclusion to hundreds of millions through the dollar, promoting the international status of the dollar, becoming an important buyer of U.S. Treasury bonds, and reinvesting profits in the U.S. Tether's stability and transparency provide a solid foundation for the cryptocurrency market and promote the development of the entire industry.