Tether, the world's largest stablecoin issuer, may launch a new US-compliant stablecoin if impending American regulations push USDT out of the market, according to CEO Paolo Ardoino.
In an interview, Ardoino downplayed the impact of U.S. regulatory developments on the company’s global operations. Despite speculation that Tether may be forced to exit the U.S. market, Ardoino said the company is currently exploring contingency plans, including the creation of a new stablecoin specifically designed for U.S. compliance.
“We believe our main stablecoin is perfect for emerging markets, but we can create a payments stablecoin that works for the US,” Ardoino said. “We need to have two products with two different value propositions.”
However, bipartisan efforts in the US Congress are raising questions about the future of foreign-issued stablecoins. The House’s STABLE Act and the Senate’s GENIUS Act propose strict requirements for stablecoin issuers, including compliance with the Bank Secrecy Act, regular audits, and anti-money laundering (AML) protocols. Tether, headquartered in El Salvador, would fall under these provisions.
While critics have long questioned Tether’s reserve transparency, arguing that the company has never undergone a full audit, Ardoino claimed that the firm is in talks with “Big Four” accounting firms about conducting an audit.
Addressing speculation that Tether would exit the U.S. entirely to avoid regulatory scrutiny, Ardoino described such claims as “the whiff of desperation” from rivals hoping to sideline Tether. “Here I am,” he said from the New York offices of Cantor Fitzgerald, a major custodian of Tether’s U.S. Treasury reserves.
*This is not investment advice.
