Tether CEO: Not Worried About USDT Competitors, Will Continue to Expand Reach

BlockBeats News, February 7th, Tether CEO Paolo Ardoino posted, stating, "At the El Salvador PlanB forum, I was asked this question: Are you worried about USDT's competitors? My answer: Many people do not realize that Tether has already built one of the most extensive digital and physical distribution networks in human history over the past 10 years."

"While some competitors raise funds from investors and increase the market value of their stablecoin on the balance sheet by paying incentives to banks, Tether already has hundreds of thousands of partners, established service terminals in all developing countries, built a digital platform with tens of millions of users, and amazing technology. The scale of our network is already different."

"This is why USDT has been able to successfully empower 400 million users in emerging markets, enabling them to access the global financial system through the USDT stablecoin. Still, billions of people cannot access basic financial services, these are good people who are simply not bankable because they are too poor. We will continue to fulfill our mission to help them. And in the process, we help the U.S. economy by repurchasing hundreds of billions of U.S. bonds and strengthen the dollar's position as the most widely used fiat currency in the world. So no, I'm not worried at all."