Tether CEO Confirms Plans to Launch USDT in the U.S. Market
The post Tether CEO Confirms Plans to Launch USDT in the U.S. Market appeared on BitcoinEthereumNews.com. Tether plans to obtain foreign issuer status for stablecoins in the United States under the requirements of the GENIUS Act, CEO Paolo Ardoino told CoinDesk in an interview. On July 18, President Donald Trump signed the GENIUS Act, a bill regulating stablecoins. Tether prepares for new compliance measures Complying with the new regulations means implementing a revised audit regime and making changes to USDT’s reserve structure. Ardoino stated that the $13 billion net income the company generated last year provides ample resources for these adjustments. He confirmed that CFO Simon McWilliams, appointed in March, is working to engage an auditor from one of the Big Four accounting firms. “Tether will comply with the GENIUS Act,” Ardoino said. He estimated that it will take around three years for Tether to enter the U.S. market. The company also intends to launch a version of USDT specifically targeting the United States and institutional investors. “Institutions are used to ultra-efficient markets, and they will take every basis point into account. So we need to create something suitable for that,” he explained. Therefore, the new product will be “focused on payments and extremely high efficiency,” the executive clarified. In May, Ardoino said the company could issue a U.S. stablecoin as early as 2026. At that time, he reiterated that USDT’s main business interests remain outside of the United States. “Our customer base is three billion people without accounts or access to the banking system,” Ardoino emphasized. According to a February estimate from JPMorgan analysts, only 66%–83% of USDT reserves currently meet GENIUS Act requirements. To achieve compliance, the issuer would need to replace bitcoins, corporate bonds, and secured loans with U.S. government bonds and other highly liquid assets, the experts concluded. Ardoino expressed confidence that adapting to the new rules would be “simple” for the…
The post Tether CEO Confirms Plans to Launch USDT in the U.S. Market appeared on BitcoinEthereumNews.com.
Tether plans to obtain foreign issuer status for stablecoins in the United States under the requirements of the GENIUS Act, CEO Paolo Ardoino told CoinDesk in an interview. On July 18, President Donald Trump signed the GENIUS Act, a bill regulating stablecoins. Tether prepares for new compliance measures Complying with the new regulations means implementing a revised audit regime and making changes to USDT’s reserve structure. Ardoino stated that the $13 billion net income the company generated last year provides ample resources for these adjustments. He confirmed that CFO Simon McWilliams, appointed in March, is working to engage an auditor from one of the Big Four accounting firms. “Tether will comply with the GENIUS Act,” Ardoino said. He estimated that it will take around three years for Tether to enter the U.S. market. The company also intends to launch a version of USDT specifically targeting the United States and institutional investors. “Institutions are used to ultra-efficient markets, and they will take every basis point into account. So we need to create something suitable for that,” he explained. Therefore, the new product will be “focused on payments and extremely high efficiency,” the executive clarified. In May, Ardoino said the company could issue a U.S. stablecoin as early as 2026. At that time, he reiterated that USDT’s main business interests remain outside of the United States. “Our customer base is three billion people without accounts or access to the banking system,” Ardoino emphasized. According to a February estimate from JPMorgan analysts, only 66%–83% of USDT reserves currently meet GENIUS Act requirements. To achieve compliance, the issuer would need to replace bitcoins, corporate bonds, and secured loans with U.S. government bonds and other highly liquid assets, the experts concluded. Ardoino expressed confidence that adapting to the new rules would be “simple” for the…
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