The CEO of Tether, Paolo Ardoino, has disclosed that the company experienced a notable increase in users during the first quarter of 2025, coinciding with the wider fluctuations in the cryptocurrency market.
In a post on X dated April 14, Ardoino reported a 13% rise in the number of USDT users over this time frame.
While he did not disclose a specific number in his post, he had earlier mentioned that Tether’s global user count had reached approximately 400 million.
He indicated that much of this growth originated from emerging markets, particularly in countries like Argentina, Brazil, and Nigeria. In those areas, USDT functions similarly to a digital dollar, providing a stable store of value and a viable alternative to volatile local currencies.
Tether’s stablecoin is crucial for nations grappling with economic difficulties, such as hyperinflation and limited access to conventional banking services. For countless individuals, USDT offers an effective way to save and transfer funds without depending on a banking system that frequently leaves them out.
The market capitalization of the leading stablecoin continues to increase, consistently reaching new all-time highs at $144 billion.
US-based stablecoin?
Looking to the future, Tether is gearing up to make inroads into the US market.
During an appearance on the podcast The Wolf of All Streets with Scott Melker, Ardoino revealed that the company is considering the development of a new stability-focused coin based in the United States. This initiative aims to align with the anticipated regulatory landscape in America and serve institutional needs.
Ardoino elaborated that, unlike USDT, which primarily supports individuals in underserved markets, this US-oriented stablecoin would be tailored for payments and institutional finance.
He noted the differences in user habits, with US consumers typically relying on savings accounts and Treasury bills, in contrast to users in countries like Turkey, where local currencies have significantly depreciated against the dollar. In those economies, stablecoins often act as essential savings vehicles.
At the same time, Ardoino addressed skeptics who suggested that Tether would not venture into the US market.
He stated:
“It has been said by our competitors that we would never engage with the US and that we were hesitant to enter the market here… Now, we want to compete in the US, and we aim to prove that we can excel and be the best in this domain.”