Tether, a stablecoin powerhouse, sets sights on the US market with a dedicated token, capitalizing on Trump's crypto-friendly promises. Amid regulatory challenges, Tether faces a pivotal moment with potential to reshape the global digital economy.
Tether, a global leader in stablecoins with its USDT, is considering a significant foray into the American market by launching a token exclusively dedicated to this market. This decision is driven by the pro-cryptocurrency momentum of the Trump administration, which promises favorable regulations to boost domestic stablecoins.
But can this ambitious project truly reshape the financial landscape, or is Tether venturing into a minefield?
Paolo Ardoino, CEO of Tether, revealed to the Financial Times that the company is actively engaging with American regulators to shape a legal framework suitable for stablecoins, these digital assets pegged to currencies like the dollar.
According to him, the Trump administration sees these tokens as a strategic leverage for the national economy. If the new rules provide a competitive landscape, Tether could deploy a payment-focused stablecoin tailored for the United States.
With 144 billion dollars worth of USDT tokens in circulation, Tether is a global colossus but remains absent from the American market, where it does not onboard any clients. Long under scrutiny by authorities for suspicions of ties to illicit activities – accusations the company vehemently denies – Tether is seeking reinvention. Ardoino emphasizes proactive cooperation with the FBI, the Secret Service, and the Department of Justice without waiting for judicial orders.
Since returning to the White House, Donald Trump has shown a clear ambition: to make the United States the “world capital of crypto.” By January 2025, he demanded rules for stablecoins by August, while easing SEC investigations into several industry players. This environment, deemed “more welcoming” by Ardoino, even prompted him to step foot on American soil for the first time.
Based in El Salvador, Tether is not just an issuer of stablecoins. It is also a major player in American public debt, holding billions in Treasury bonds to secure its reserves.
Thanks to rising interest rates, the company generated 13 billion dollars in unaudited profits in 2024. To enhance its credibility, Tether is negotiating with Big Four firms for a full audit of its reserves, a recurrent demand from critics.
Tether is not sitting idle waiting for laws to change. The company is actively working behind the scenes, collaborating with key figures like representatives Bryan Steil and French Hill, the architects of the STABLE Act filed on February 6. Ardoino has also expressed a desire to influence two other stablecoin-related bills.
Meanwhile, Jerome Powell, Federal Reserve Chairman, reaffirmed on February 11 the Fed’s support for a regulatory framework protecting consumers and investors.
In essence, this shift towards the United States marks a radical change for Tether, accustomed to operating away from American scrutiny. A made-in-USA stablecoin, if materialized, could legitimize the company in the eyes of financial institutions and boost the adoption of stablecoins in traditional channels.
However, the road is paved with challenges: transparency of reserves, compliance with anti-money laundering laws, and fierce competition with players like Circle (USDC) remain major hurdles. The coming months will reveal whether Tether can turn this opportunity into success or if this bold move will clash with regulatory realities.
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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