Tether Enters US Market to Compete with Trump-Backed Stablecoin
- Tether, the largest stablecoin issuer, plans a US dollar-pegged stablecoin launch by end of 2025.
- The new stablecoin will compete with World Liberty Financial’s USD1, backed by Eric and Donald Trump Jr.
- Tether holds approximately $120 billion in US Treasuries and reports a $5.6 billion surplus.
- CEO Paolo Ardoino has increased engagement with US lawmakers to facilitate market entry.
- 46 million new USDT wallets were created in the latest quarter, marking a 13% increase.
Tether’s planned US market entry aims to challenge existing players like USD1 while showcasing its financial stability with significant reserves and growing user adoption.
Source (2.6)https://coingape.com/tether-goes-head-to-head-with-trumps-stablecoin-usd1-why-its-good-news-for-crypto/?rand=24432
