Tether's US-oriented stablecoin may launch by the end of this year: CEO Paolo Ardoino | CoinDesk JAPAN

• Tether plans to launch a US-specific stablecoin by the end of this year or early next year, contingent upon regulatory frameworks for stablecoin regulation, according to CEO Paolo Ardoino.
• The new stablecoin aims to compete with payment services like PayPal’s CashApp and cater to institutional investors in the United States.
• Tether’s plans in the United States have emerged as competition in the stablecoin market intensifies and federal legislation to regulate this sector progresses.

Tether, the company behind the stablecoin USDT with a market capitalization of $148 billion (approximately ¥29 trillion, based on an exchange rate of ¥194 per dollar), plans to launch a stablecoin focused on the U.S. either by the end of this year or early 2026, depending on the laws for stablecoin regulation.

“Realistically, it depends on the timing of the final laws regarding stablecoins, but I hope to launch as early as the end of this year or the beginning of next year,” said CEO Paolo Ardoino.

Mr. Alduino stated that the USDT token, the flagship product of Tether, is aimed at users in emerging markets where access to the US dollar is restricted, and that the new product will be different.

“In the United States, there is a need to create payment products that institutional investors can use, similar to PayPal’s CashApp. That is what we are aiming for.”

Tether’s stablecoin plan targeting the US is highlighting the company’s strengthened presence in the country, as Donald Trump returns to the White House and regulatory pressure on cryptocurrency companies eases.

Mr. Aldoino toured the United States this year, conducting interviews and speeches at events, including a conference hosted by Wall Street investment bank Cantor Fitzgerald. Cantor manages over $100 billion in U.S. Treasury bonds held by Tether, and former CEO Howard Lutnick currently serves as Secretary of Commerce in the Trump administration.

As efforts to regulate stablecoins under U.S. federal law progress, competition in the stablecoin market is intensifying. There are significant opportunities in this market, and Citi predicts that this sector will grow to several trillion dollars in size within the next decade.

Circle, the rival issuing USD Coin (USDC) with a market capitalization of $62 billion, announced plans last month to build a cross-border payment and remittance network.