Tether Shifts Focus to International Markets Amid U.S. Legislation

Tether CEO Paolo Ardoino has stated that despite the U.S. advancing stablecoin legislation, Tether will continue to focus on international markets. Ardoino highlighted the company's attention to the impact of the "Genius Bill" on foreign issuers, indicating a strategic shift towards markets outside the U.S. This move comes as Tether considers issuing a compliant stablecoin to attract institutional investors. The company is currently in discussions with the Big Four auditing firms for a formal audit, with the current review being handled by BDO Italy. Ardoino expressed confidence in Tether's customer base, which consists of the 3 billion people worldwide who are unbanked, and is not concerned about competition from large banks jointly issuing a stablecoin.

Tether's decision to focus on international markets and issue a compliant stablecoin is a strategic response to the evolving regulatory landscape. By targeting unbanked populations, Tether aims to expand its reach and attract institutional funds. The company's engagement with top auditing firms for a formal audit underscores its commitment to transparency and regulatory compliance. Ardoino's remarks suggest that Tether is well-positioned to navigate the competitive landscape and continue its growth trajectory in the stablecoin market.