Tether’s Market Insights

Paolo Ardoino, the CEO of Tether, attributed nearly 40% of all blockchain gas fees to transactions sending USDT. He pointed out that hundreds of millions of users on ETH, Arbitrum, BSC, Solana, Polygon, TON, Avalanche, and Tron used USDT daily.

Ardoino asserted that the Tether digital dollar (USDt) protected families in emerging economies against local inflation and national currency devaluation. He added that blockchains focusing on lower gas fees paid in USDT would “take over the world.”

However, Ardoino explained that Tether was not looking to go public, even after expanding in the U.S. He stated the company will remain focused on emerging markets where it has an advantage over rivals. The Tether boss boasted that his company had done “incredibly well” in emerging markets for over a decade, claiming Tether has better technology and understanding of this market segment than anyone else.

Ardoino disclosed that Tether would provide an efficient stablecoin for interbank settlements, payments, and trading as part of its U.S. domestic strategy. Tether will also focus on U.S. institutional markets after the landmark Genius Act crypto legislation was passed. Additionally, Ardoino claimed that Tether had about $162B worth of USDT in circulation, an 18% increase since the beginning of 2025.

Ardoino on USDT’s Utility

> 40% of all blockchain fees are paid to send USDt 🤯
> That’s across 9 chains: ETH, Tron, TON, Solana, BSC, Avalanche, Arbitrum, Polygon & Optimism.
> Hundreds of millions of people in emerging markets use Tether’s digital dollar USDt daily to protect their families from local… pic.twitter.com/glAFR38u5Z
> – Paolo Ardoino

Ardoino said Tether’s achievement of 40% gas fees market share was “a statement of USDT’s utility” for countless users in developing countries and emerging markets. He previously claimed over 400 million people globally used USDT.

The use of USDT also increased quarterly by 35 million wallets. The U.S. Treasury Department’s statistics indicated Tether held over $127 billion in U.S. treasuries as of the second quarter of 2025, rivaling sovereign nations like Germany, South Korea, and the UAE.

Bernstein analysts expect USDT to continue dominating with a 65% share of the stablecoins market. They also claimed stablecoins would soon evolve from the “money rail of crypto markets” to the “money rail of the internet.”

Analysts predict the stablecoin market cap will grow 16x to over $4 trillion in the next ten years, driven by extensive use of crypto in payments through stablecoin-native financial services and tokenized capital markets.

According to the GasFeesNow platform, sending USDt on Ethereum costs $0.5619, $0.0021 on BNB, and $0.0002 in Polygon, while it can range from $3.94 to $8.01 on Tron.

Tether’s Plans for a New Stablecoin

Ardoino mentioned that Tether was considering developing a new stablecoin compliant with pending U.S. stablecoin laws. He pointed out that his company had no problem with USDT being banned in the U.S. due to regulatory restrictions. He claimed that a new stablecoin would help circumvent ongoing regulatory issues.

However, Ardoino clarified that his company maintained “the highest level of compliance” regarding cooperation with regulators. He stated that theories and rumors about Tether staying out of the U.S. market due to regulatory issues stemmed from competitor desperation. He affirmed that the company faced no issues with pending stablecoin legislation in the U.S.

> “We believe that our main stablecoin is perfected for emerging markets, but we can craft a payment stablecoin that works for the U.S…. We need to have two products with two different value propositions.”
> – Paolo Ardoino, CEO of Tether

Ardoino was optimistic that USDT would remain listed on secondary markets in the U.S., emphasizing the importance of global access for remittances. However, he also envisioned a “long-term future reality” where USDT was not “a major player” in Europe or the U.S.