Tether's valuation may reach 515 billion USD, with global USDT users surpassing 420 million, becoming an alternative to the dollar in high-inflation countries.

Tether expects to achieve earnings before interest, taxes, depreciation and amortization (EBITDA) of $7.4 billion by 2025. Considering the 69.3x valuation multiple of publicly listed stablecoin issuer Circle (USDC’s parent company), Tether’s potential valuation could be as high as $515 billion. At present, USDT has a market capitalization of about $155 billion, with 420 million users worldwide, covering emerging markets and high-inflation countries, and is widely used for savings and payments. Paolo Ardoino, CEO of Tether, said that USDT has become the most realistic alternative to the US dollar for users in countries such as Turkey and Argentina, and has set up offline service points in regions such as Africa to promote stablecoin payments. In addition, Tether is investing in areas such as agriculture, artificial intelligence, and brain-computer interfaces to lay the foundation for the future digital economy infrastructure. On the other hand, the recently listed Circle has a USDC market capitalization of around $45 billion, which lags far behind USDT in market share despite stronger compliance. With the advancement of the Stablecoin Innovation Act in the United States, the future competitive landscape of stablecoins may usher in a new round of changes.