During the Token2049 event in Singapore, Tether CEO Paolo Ardoino introduced USAT, a fresh stablecoin aimed specifically at the American market. This new digital currency will harness the potential of the Rumble platform in its promotional strategy. Rumble is set to debut a cryptocurrency wallet, which will be supported by Tether, enhancing stablecoin use among its 51 million US-based users by the end of this year.
How Will Tether Leverage Rumble?
In a panel session, Ardoino highlighted Rumble’s transformation into a crypto-friendly platform, making it easier for countless Americans to access Tether’s latest stablecoin. The US remains a pioneer in financial systems, so USAT has been crafted to conform to local regulatory standards. Tether’s substantial $775 million investment in Rumble last year led to the acquisition of nearly half of the platform’s shares.
The newly launched USAT, backed by the US dollar, aims to assure users with its stable structure. Following USDT‘s reach of a global supply of $174.6 billion, Tether introduced this US-centric product to cater to regulatory requirements more effectively.
What Are Tether’s Future Intentions?
Tether is rapidly broadening its horizons, not just within the stablecoin sphere but also in diversifying into other industries. With earnings around $13 billion this year, the company is venturing into telecommunications and energy infrastructure. Reports indicate Tether is considering raising up to $20 billion, based on a company valuation of $500 billion.
Ardoino disclosed potential investment efforts in Africa, intending to advance the energy and payment infrastructure there. The ambitious goal of setting up 100,000 to 150,000 kiosks by 2030 aims to fortify USDT’s dollar-based economy and advance financial inclusion. As a result, Tether strives for a stronger presence not only in the cryptocurrency market but also in the global economy as a whole.
“Our goal is to combine financial inclusivity with technological progress,” Ardoino stated, emphasizing Tether’s commitment to innovation.
– Tether has introduced USAT, a stablecoin targeting the US market.
– Rumble’s platform will support USAT’s promotion and adoption.
– Tether invested $775 million in Rumble, acquiring a 48% stake.
– The company plans African investments to bolster energy and payment infrastructure.
– Future prospects include setting up a massive kiosk network in Africa by 2030.
Tether’s strategic maneuvers aim to solidify its leadership in both the stablecoin sector and beyond. Aligning with regulated markets while tapping into emerging industries and regions, the company’s initiatives reflect a commitment to long-term growth and economic contribution on a global scale.
