Tether says it will continue to focus on markets outside the US and plans to launch a compliant stablecoin to attract institutional funds

Odaily Planet Daily News: Despite the U.S. Congress pushing for stablecoin regulatory bills such as the "Genius Act," Tether, the world's largest stablecoin issuer, stated that its main business focus will remain on markets outside the United States. Tether CEO Paolo Ardoino mentioned that the company is paying attention to how the bill distinguishes between domestic and foreign issuers and hopes to maintain global business expansion under compliance.

Currently, Tether's USDT holds over 60% of the global stablecoin market share, with users primarily located in emerging markets. Ardoino pointed out that compared to the diverse payment systems in the U.S. (such as Zelle, PayPal, etc.), Tether's service focus is on the 3 billion unbanked users worldwide who have not yet fully accessed the traditional financial system.

Although Tether does not currently directly serve U.S. customers, most of its reserve assets already meet the proposed regulatory requirements, with some assets like Bitcoin and mortgages still falling outside the compliance scope. Ardoino stated that the company is considering issuing a new stablecoin fully compliant with regulatory standards to attract institutional investors and is advancing the audit of reserve assets by the Big Four accounting firms.

He added, "Full audit is our top priority." (Bloomberg)