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Tether CEO: Still focusing on markets outside the US, plans to launch a Compliance stablecoin to attract institutional funds.
On May 25, according to Bloomberg, Tether CEO Paolo Ardoino stated that despite the U.S. advancing legislation on stablecoins, Tether will still focus on overseas markets and follow the impact of the Genius Act on foreign issuers. He revealed that the company is considering the issuance of stablecoins that comply with the new regulations to attract institutional investors and is currently in discussions with the Big Four accounting firms for a formal audit, with the review still being handled by BDO Italy. Regarding the joint issuance of stablecoins by large banks, Ardoino stated that Tether's customer base consists of 3 billion people globally who are unbanked, and they are not worried about competition.