Why It’s Good News for Crypto
The post Why It’s Good News for Crypto appeared on BitcoinEthereumNews.com. Tether, the world’s largest stablecoin issuer with over $143 billion in circulation, is preparing to enter the US domestic market with a new dollar-pegged stablecoin. With this new launch, Tether plans to compete directly with key players in the US stablecoin market like the Trump family-backed World Liberty Financial and its USD1 coin. Tether to compete with USD1 CEO Paolo Ardoino revealed these plans during a CNBC interview at the Token2049 conference in Dubai. According to the CEO, the stablecoin will launch by the end of 2025. He also mentioned that the company’s US-focused stablecoin would be different from its international USDT offering. Its launch timeline is dependent on “the timeline of the final legislation.” The stablecoin landscape is becoming increasingly competitive as Tether prepares to challenge World Liberty Financial’s USD1, a stablecoin initiative backed by Eric Trump and Donald Trump Jr. Eric Trump has been quite vocal about crypto and even stated that crypto could replace SWIFT payment system. Tether’s planned entry into the US domestic market is a major move as the regulatory environment is changing under the current administration. World Liberty Financial has already announced its USD1 token, which promises to be fully backed by short-term US government treasuries, US dollar deposits, and other cash equivalents. The token is initially planned for launch on Ethereum and Binance Smart Chain. Tether’s US market entry follows Ardoino’s increased presence in Washington, where he has engaged in meetings with lawmakers and participated in crypto industry events. This approach, characterized by some as a charm offensive, includes a private lunch with Senator Bill Hagerty and various networking activities with policy influencers. Tether mentioned legal cooperation as a central element of its messaging to US policymakers. “There is no company… even in the traditional financial system, that has such a breadth of…
The post Why It’s Good News for Crypto appeared on BitcoinEthereumNews.com.
Tether, the world’s largest stablecoin issuer with over $143 billion in circulation, is preparing to enter the US domestic market with a new dollar-pegged stablecoin. With this new launch, Tether plans to compete directly with key players in the US stablecoin market like the Trump family-backed World Liberty Financial and its USD1 coin. Tether to compete with USD1 CEO Paolo Ardoino revealed these plans during a CNBC interview at the Token2049 conference in Dubai. According to the CEO, the stablecoin will launch by the end of 2025. He also mentioned that the company’s US-focused stablecoin would be different from its international USDT offering. Its launch timeline is dependent on “the timeline of the final legislation.” The stablecoin landscape is becoming increasingly competitive as Tether prepares to challenge World Liberty Financial’s USD1, a stablecoin initiative backed by Eric Trump and Donald Trump Jr. Eric Trump has been quite vocal about crypto and even stated that crypto could replace SWIFT payment system. Tether’s planned entry into the US domestic market is a major move as the regulatory environment is changing under the current administration. World Liberty Financial has already announced its USD1 token, which promises to be fully backed by short-term US government treasuries, US dollar deposits, and other cash equivalents. The token is initially planned for launch on Ethereum and Binance Smart Chain. Tether’s US market entry follows Ardoino’s increased presence in Washington, where he has engaged in meetings with lawmakers and participated in crypto industry events. This approach, characterized by some as a charm offensive, includes a private lunch with Senator Bill Hagerty and various networking activities with policy influencers. Tether mentioned legal cooperation as a central element of its messaging to US policymakers. “There is no company… even in the traditional financial system, that has such a breadth of…
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