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Tether CEO Paolo Ardoino has reaffirmed the company’s strong market position amid increasing competition in the stablecoin sector. Speaking at the PlanB Forum in El Salvador and later addressing concerns on social media, Ardoino emphasized that Tether has spent the past decade building an extensive global distribution network. Tether CEO On The Competitive Stablecoin Market In a lengthy post on the X platform, Tether CEO Paolo Ardoino addressed questions about the company’s ability to maintain its lead in the stablecoin sector. He pointed out that while competitors rely on investor funding and bank incentives, Tether has focused on expanding its reach. According to Ardoino, Tether has developed a widespread network with hundreds of thousands of partners. This includes building kiosks in developing countries and establishing digital platforms with millions of users. He stated that this extensive distribution network has been a key factor in the success of the USDT stablecoin. Tether CEO added, “The scale of our network is just different. This is the reason why USDT has been so successful in empowering 400 million users in emerging markets giving them access to the global financial system through the stablecoin USDT.” Similarly, the USDT issuer has been expanding its reach through various tech innovations, recently launching the AI SDK platform to integrate artificial intelligence into crypto applications. Built on the Bare JavaScript runtime, the platform supports AI translation, voice assistants, and Bitcoin wallet assistants, enhancing transaction efficiency. USDT and Financial Access in Emerging Markets Ardoino highlighted the role of the USDT stablecoin in providing financial access to users who lack traditional banking services. He noted that Tether’s infrastructure has empowered millions of people across emerging markets. He emphasized that billions of individuals remain underserved by banks. Tether aims to continue expanding its reach to ensure that more people have access…

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Filed under: News - @ February 8, 2025 7:13 am