Tether's CEO Expresses Ambition to Set Up Business Operations within the United States
Tether Expands Operations in the US Market
Tether, the issuer of the market's largest stablecoin USDT, is making a significant comeback in the United States. The company, based in El Salvador, has announced plans to launch a new dollar-pegged stablecoin tailored for institutional clients such as banks, trading firms, and corporations within the next year [1][2][3].
This expansion is a strategic move by Tether to re-establish its presence in the US market, following regulatory challenges in the past, including a ban on operating in New York [1][3]. The acceleration of Tether’s U.S. push is closely linked to the recent enactment of the GENIUS Act, signed into law by President Donald Trump on July 18, 2025 [1][2][3].
The GENIUS Act introduces a regulatory framework requiring stablecoin issuers with market caps over $50 billion to conduct annual full audits of their reserves [1][2][3]. Tether is moving to comply with this requirement by appointing a new CFO to expedite the process of gaining a full audit from one of the Big Four accounting firms [1][2][4].
The new stablecoin initiative is a part of Tether's broader strategy to rebrand itself as a cooperative partner to American lawmakers and law enforcement [1]. The company aims to differentiate itself in a competitive environment where major U.S. banks like JPMorgan, Bank of America, Citigroup, and Wells Fargo are also launching stablecoins [1][4].
Tether's focus remains on serving unbanked populations, which CEO Paolo Ardoino estimates to be around 30 billion people globally [1]. The company is also reportedly committed to expanding its operations in the US while simultaneously focusing on emerging markets [1].
During the Token2049 conference in Dubai, Ardoino addressed ongoing concerns regarding Tether's transparency, particularly its failure to provide comprehensive audits [1]. He emphasized that the forthcoming US stablecoin would be tailored to comply with local regulations [1].
In 2021, Tether paid nearly $60 million to settle allegations from the state and the US Commodity Futures Trading Commission (CFTC) regarding misleading claims about its reserves [1]. Since then, Tether releases quarterly attestations signed by BDO Italia SpA, rather than undergoing a full audit by one of the Big Four accounting firms [1].
Despite the progress in the US market, Tether remains dedicated to serving unbanked populations and continues its efforts to improve transparency and regulatory compliance [2]. No explicit plans to go public have been indicated; the focus remains on building institutional business and regulatory compliance [2].
| Aspect | Details | |-------------------------|-------------------------------------------------------------------------------------------------| | Market Focus | U.S. institutional clients: banks, trading firms, corporations | | Product | New U.S.-focused stablecoin for payments, settlements, and trading (launch ~early 2026) | | Regulatory Compliance | Complying with GENIUS Act audit requirements; moving from quarterly reviews to a full Big Four audit | | Competitive Landscape | Competing with bank-issued stablecoins (JPMorgan, Bank of America, etc.) | | Strategic Moves | Appointed new CFO for audit acceleration; investing heavily in blockchain/digital asset ventures |
This expansion marks Tether’s re-entry into the US market after its 2021 retreat, leveraging a more favorable regulatory environment shaped by the GENIUS Act to solidify its position in the institutional stablecoin market [3][4].
References: [1] Yahoo Finance (2025). Tether Expands Operations in the US Market. Retrieved from https://finance.yahoo.com/news/tether-expands-operations-us-market-175100864.html
[2] CoinDesk (2025). Tether's U.S. Expansion: Focusing on Institutional Business and Compliance. Retrieved from https://www.coindesk.com/business/2025/07/22/tethers-us-expansion-focusing-on-institutional-business-and-compliance/
[3] The Block (2025). Tether to Launch US-Focused Stablecoin Amidst Regulatory Compliance. Retrieved from https://www.theblockcrypto.com/linked/108668/tether-to-launch-us-focused-stablecoin-amidst-regulatory-compliance
[4] Coindesk (2025). Tether's US Expansion: A Rebranding Effort to Comply with Regulators. Retrieved from https://www.coindesk.com/business/2025/07/23/tethers-us-expansion-a-rebranding-effort-to-comply-with-regulators/
- The cryptocurrency industry is witnessing Tether's strategic re-entry into the US market, as the company plans to launch a new stablecoin tailored for institutional finance, aiming to solidify its position in the competitive business landscape.
- To comply with the regulatory framework introduced by the GENIUS Act, Tether is making significant investments in its operations, appointing a new CFO to expedite the process of obtaining a full audit from one of the Big Four accounting firms.
- Tether's expansion in the US market is not only focused on complying with local regulations but also on differentiating itself from banks such as JPMorgan, Bank of America, Citigroup, and Wells Fargo, which are also launching stablecoins.
