Tether CEO Highlights USDT's Global Impact Beyond Cryptocurrency

According to Odaily, Tether CEO Paolo Ardoino recently discussed the evolution of USDT from a cryptocurrency to the most widely used digital dollar globally. Ardoino emphasized that USDT's utility extends beyond the crypto market, serving as a crucial alternative to volatile national currencies in countries like Argentina and Turkey. Before USDT's widespread adoption, people in inflation-stricken nations often resorted to the black market to obtain dollars. Ardoino pointed out that USDT is more effective outside the United States, where the dollar has multiple transmission layers such as banks, credit cards, and digital payment platforms like Venmo, PayPal, and Cash App. He highlighted the challenges faced by individuals in countries with lower incomes, such as Haiti, where people earn as little as $1.34 per day and cannot afford high transaction fees on platforms like Ethereum. Additionally, Ardoino discussed the intersection of stablecoins and geopolitics, particularly focusing on treasury bills. These debt instruments back USDT, allowing holders to easily convert their tokens into dollars. The interest payments from these treasuries also contribute to Tether's reserves. Ardoino noted that this structure enhances the resilience of dollar ownership, preventing any single country or decision-maker from selling off large amounts of U.S. treasury bills at once. He concluded by stating, 'USDT and Tether are the best friends of the dollar.'