{"id":125935,"date":"2025-03-27T13:22:41","date_gmt":"2025-03-27T13:22:41","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125935"},"modified":"2025-03-27T13:22:41","modified_gmt":"2025-03-27T13:22:41","slug":"stablecoin-multiverse-begins-tether-ceo-paolo-ardoino","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125935","title":{"rendered":"\u2018Stablecoin multiverse\u2019 begins: Tether CEO Paolo Ardoino"},"content":{"rendered":"

Source: Cointelegraph.com NewsPaolo Ardoino, CEO of stablecoin issuer Tether, said the industry has just entered a new era, marked by an influx of stablecoin solutions from both private companies and governments.
\nIn a March 27 X thread, Ardoino said the crypto industry just entered the \u201cstablecoin multiverse\u201d era, where multiple stablecoins are launching to meet growing global demand.
\nSource: Paolo AdroinoRelated: Rumble wallet rolls out with Tether\u2019s USDT for creator payments
\nNot everyone agrees with the assessment
\nHowever, Slava Demchuk, CEO of crypto compliance firm AMLBot, told Cointelegraph that he disagrees \u201cwith the premise that there are hundreds of stablecoins launched by companies and governments.\u201d
\nHe said the claims are an exaggeration and highlighted that \u201claunching a stablecoin is a complex and resource-intensive process,\u201d made even more involved by the European Union\u2019s Markets in Crypto-Assets Regulation (MiCA) framework:
\n\u201cMiCA, for instance, imposes stringent requirements \u2014 particularly prudential ones such as capital reserves, liquidity buffers, and robust governance structures \u2014 that not all companies can easily meet. \u201c
\nOn the other hand, Demchuk noted that a growth in the number of stablecoins poses challenges and risks. He pointed out that regulatory differences across jurisdictions are an issue with MiCA providing clarity in the EU while the US market is still in debate, leading to a global \u201cpatchwork of rules.\u201d
\nHe warned that such inconsistency risks pushing companies to less regulated markets. The consequence of such an exodus would be that consumer protection efforts would be undermined.
\nRelated: Tether seeks Big Four firm for its first full financial audit \u2014 Report
\nArdoino expects fast growth
\nIn a subsequent X post, Ardoino claimed Tether currently counts 400 million users worldwide, adding that he expects that number to reach one billion soon. He attributes the quick growth to an approach different from that of players in traditional finance:
\n\u201cWe always focused on the adoption from the ground up, working in the streets, among other people, while traditional finance was watching at us from their ivory towers.\u201c
\nVasily Vidmanov, the chief operating officer of decentralized finance compliance protocol PureFi, told Cointelegraph that Ardoino\u2019s forecast \u201cis interesting but not entirely realistic.\u201d He cited \u201cthe recent delisting of USDT in the EU,\u201d noting that it \u201chas shown that resisting regulation is futile \u2014 adaptation and new approaches to decentralization are necessary.\u201c
\nThe comments reference Tether\u2019s USDt (USDT) being delisted for European Economic Area-based users of Binance, Crypto.com, Kraken and Coinbase. A Tether spokesperson told Cointelegraph that the firm found the actions disappointing.
\nVidmanov explained that data concerning swaps between USDT and Circle\u2019s competing USDC (USDC) \u201cindicates a noticeable increase following the delisting.\u201d He also raised concerns over the firm\u2019s reputation and \u201congoing investigations in the US related to sanctions compliance and Anti-Money Laundering.\u201d
\nUSDT\/USDC swaps number. Source: DuneUS authorities are reportedly investigating third-party use of Tether\u2019s stablecoins for criminal activities.
\nArdoino already commented on those claims when they surfaced in late October 2024, calling the story \u201cold noise.\u201d Still, according to Vidmanov, with all those challenges, \u201cachieving the projected figures within the next one to two years seems unlikely unless there are significant shifts in global policy and a substantial influx of new users from underpenetrated crypto markets.\u201d
\nTether and Paolo Ardoino had not responded to Cointelegraph\u2019s inquiry by publication time.
\nMagazine: Stablecoin for cyber-scammers launches, Sony L2 drama: Asia ExpressRead More<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Source: Cointelegraph.com NewsPaolo Ardoino, CEO of stablecoin issuer Tether, said the industry has just entered a new era, marked by an influx of stablecoin solutions from both private companies and… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125935"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125935"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125935\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125935"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}