Tether CEO Confirms U.S. Expansion Plans Following Stablecoin Legislation

Tether is actively preparing to expand its business operations in the United States, according to CEO Paolo Ardoino. Speaking in a recent interview with Bloomberg Television, Ardoino said the company is making solid progress on its U.S. strategy, signaling a significant move for the world’s largest stablecoin issuer.

Table of Contents

Toggle

“We are well in progress of establishing our U.S. domestic strategy,” Ardoino stated on Wednesday.

The update comes shortly after President Donald Trump signed the GENIUS Act into law—a bill that establishes a federal framework for regulating stablecoins in the U.S.

New U.S.-Based Stablecoin in Development

Earlier this year, Ardoino revealed plans to launch a new U.S.-based stablecoin specifically designed for institutional clients. This new product aims to provide faster settlement solutions for major financial institutions and corporate users.

Tether’s current flagship product, USDT, holds the title of the world’s largest stablecoin, with a market capitalization of approximately $162 billion. While USDT dominates the global market, the proposed U.S. stablecoin represents a focused push into domestic institutional finance.

Ardoino said Tether expects to make a formal announcement about this initiative in the coming months.

“That is well underway. We plan to announce it in the next couple of months,” he noted.

Push for Greater Transparency

Tether has faced ongoing criticism over the lack of a full independent audit of its reserves. While the company has provided quarterly attestations from BDO Italia, regulators and market participants have called for more rigorous transparency standards.

To address these concerns, Tether recently hired Simon McWilliams as its new Chief Financial Officer. One of McWilliams’ main objectives is to lead the company toward obtaining a full audit from a Big Four accounting firm—Deloitte, EY, PwC, or KPMG.

Ardoino reiterated that securing such a review is a top priority for the company.

GENIUS Act: A New Era for Stablecoin Oversight

Tether’s CEO was present at the signing of the GENIUS Act in Washington, D.C. The new legislation introduces strict requirements for stablecoin issuers, including:

Full backing by U.S. dollars or similarly liquid assets
Annual audits for issuers with over $50 billion in market cap
Regulatory guidelines for both domestic and foreign-issued stablecoins

This regulatory clarity is expected to reshape the stablecoin landscape in the United States.

Rising Competition from Traditional Finance

As the U.S. stablecoin market opens up, Tether will face growing competition from major financial institutions. Several bank-backed initiatives—led by companies involving JPMorgan, Bank of America, Citigroup, and Wells Fargo—are reportedly planning to launch their own stablecoins.

Ardoino acknowledged that these traditional players might have a short-term advantage in the U.S. market but emphasized Tether’s edge in technology and experience.

“They can compete and be probably maybe, maybe, better than us in the short term in the United States just because it’s a new market for us, but we have better technology,” Ardoino said. “We have a much better understanding of this market than anyone else.”

No Plans for Public Listing

Unlike its competitor Circle, which is exploring the path to becoming a publicly traded company, Tether has no interest in going public. When asked about potential IPO plans, Ardoino confirmed that Tether intends to remain privately held.

Conclusion

Tether’s next chapter appears set in the U.S., with strategic developments aligning with new federal regulations. As the company prepares to enter the domestic market with a new institutional stablecoin, it will be navigating a landscape filled with both regulatory expectations and heavyweight competition. Yet, Ardoino remains confident that Tether’s experience, technology, and global leadership position give it a distinct advantage as it steps onto U.S. soil.