Tether CEO Paolo Ardoino has revealed that the company saw a significant uptick in users during the first quarter of 2025 amid the broader crypto market volatility.
In an April 14 post on X, Ardoino announced that the number of USDT users rose by 13% during the period.
Although he didn’t provide an exact figure in the post, Ardoino had previously stated that Tether’s global user base had reached around 400 million.
At the time, he noted that the bulk of this adoption came from emerging markets such as Argentina, Brazil, and Nigeria. In these regions, USDT acts as a digital dollar, offering a reliable store of value and a practical alternative to unstable national currencies.
Tether’s stablecoin plays a vital role in countries facing economic challenges like hyperinflation and restricted access to traditional banking services. For millions, USDT provides an efficient way to store and transfer money without relying on a banking system that often excludes them.
The market cap of the top stablecoin continues to rise, repeatedly breaking new all-time highs at $144 billion.
US-based stablecoin?
Looking ahead, Tether is preparing to expand its footprint into the US market.
Speaking on The Wolf of All Streets podcast with Scott Melker, Ardoino revealed that the company is exploring the launch of a new US-domiciled stablecoin. This product would align with forthcoming American regulatory frameworks and cater to institutional use cases.
Ardoino explained that unlike USDT, which serves individuals in underbanked regions, the US-focused stablecoin would be designed for payments and institutional finance.
He highlighted the contrast between US users, who typically rely on savings accounts and T-bills, and users in countries like Turkey, where local currencies have lost significant value against the dollar. In such economies, stablecoins often serve as de facto savings tools.
Meanwhile, Ardoino also addressed critics who claimed Tether would avoid entering the US market.
He said:
“It has been said from our competition that we would never touch the US, and that we were afraid to come into the US…Now we want to play in the US, and we want to demonstrate that we can also be great and be the best in the US.”