The post Crypto News: Tether Doubles Down on U.S. Market as Regulation Opens the Door appeared first on Coinpedia Fintech News
Tether CEO Paolo Ardoino announced on Wednesday that the company will expand its operations in the U.S., focusing mainly on serving big institutions with its stablecoin for payments and settlements. This move comes just a week after President Donald Trump signed the GENIUS Act, a new law targeted at regulating stablecoins in the country.
Tether Expanding in the US Amid the Evolution of Stablecoin
As the U.S. continues to advance in digital asset regulations, especially with the recent stablecoin legislation, companies like Tether are showing growing interest in expanding their presence in the country. In a recent television interview, Ardoino said the company has no plans to go public. Instead, its main focus is on making meaningful progress and building its business in the U.S.
Ardoino said, “We are well in progress of establishing our U.S. domestic strategy,” and plans to focus on payments, interbank settlements, and trading. He asserted that the plan for building an institutional market is well underway and will be announced in the next couple of months.
Intense Competition for Stablecoin Market
With stablecoin development gaining momentum in the U.S., global companies are navigating through a growing number of players to set up their businesses in the country. Tether is expected to face tough competition as major traditional banks like Bank of America, Citigroup, and Wells Fargo prepare to launch their own stablecoins.
Despite the growing global competition, Ardoino stays composed and asserts that they have an advantage. He stated, “They can compete and be probably maybe, maybe, better than us in the short term in the United States just because it’s a new market for us, but we have better technology…we have a much better understanding of this market than anyone else.”
Tether Prioritizes Seeking Audit Approval
In 2025, Tether continues to face scrutiny regarding audits and regulatory compliance. The company released quarterly attestations and committed to undergoing full audits, instead of providing a full independent audit of its stablecoin reserves.
To resolve this, last month, Tether hired Simon McWilliams as its new chief financial officer to lead efforts toward securing a full audit. Now, the company CEO confirms that their “top priority” is obtaining a review from Big Four audit firms — Deloitte, EY, PwC, and KPMG.
Source: https://coinpedia.org/news/crypto-news-tether-doubles-down-on-u-s-market-as-regulation-opens-the-door/
