Tether CEO: Not Worried About USDT Competitors, Will Continue to Expand Reach

On February 7th, Paolo Ardoino, the CEO of Tether, posted and stated, "During the El Salvador PlanB forum, I was asked this question: Are you concerned about USDT's competitors? My response is: Many people fail to realize that over the past 10 years, Tether has already established one of the most extensive digital and physical distribution networks in human history." "While some competitors raise funds from investors and increase the market value of their stablecoin on the balance sheet by providing incentives to banks, Tether already has hundreds of thousands of partners. It has set up service terminals in all developing countries and built a digital platform with tens of millions of users and amazing technology. The scale of our network is already distinct." "This is why USDT has been able to successfully empower 400 million users in emerging markets, enabling them to access the global financial system through the USDT stablecoin. Yet, billions of people still cannot access basic financial services. These are good people who are simply not eligible for banking due to their poverty. We will continue to fulfill our mission to assist them. And in the process, we help the U.S. economy by repurchasing hundreds of billions of U.S. bonds and enhance the dollar's position as the most widely used fiat currency in the world. Therefore, no, I am not worried at all."