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New reports suggest that Tether is planning to re-enter the US market, driven by more favourable crypto regulations in the country.
Paolo Ardoino, Tether’s CEO, in an interview with Bloomberg on 23 July 2025, pointed out that the company is making progress in its US expansion strategy following the signing of the historic stablecoin legislation last week.
During his interview, Ardoino stated, “We are well in progress of establishing our US domestic strategy. It’s going to be focused on the US institutional markets, providing an efficient stablecoin for payments but also for interbank settlements and trading.”
Analysts expect the GENIUS ACT (Guiding and Establishing National Innovation for U.S. Stablecoins) to redefine global finance by opening the doors for banks, payment networks and technology firms to issue their stablecoins.
Tether returns to the US, riding the GENIUS Act, this time eyeing banks and interbank settlements. Circle gets real competition, banks get nervous. Stablecoins have entered the financial system for good.Sit on the sidelines, and you’re just an extra. 💸#Tether #USDT #GENIUSAct pic.twitter.com/5CJJ7ozQd3
— Venorys (@Venorys) July 24, 2025
In 2021, regulators banned Tether from operating in the US and required the company to pay a hefty $60 million in fines to New York State and the US Commodity Futures Trading Commission (CFTC) to settle false and misleading claims.
However, despite legal scrutiny, Tether’s USDT has kept its momentum as it continues to lead the global stablecoin market with over $162 billion in circulation, an 18% increase since the start of this year.
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Tether To Keep Focusing On Local Markets Outside US
During the interview, Ardoino mentioned that Tether has no plans to go public, unlike Circle, which went public in June this year and saw its stock surge by more than 500%.
“In general, we are not interested in becoming a public company,” he said. He further added that the company will continue to focus on emerging markets in addition to expanding in the US.
Ardoino explained that Tether’s global reach gives the company a competitive advantage, as proven with USDT’s strong adoption in Latin America, Africa and Asia, further cementing the notion that the company understands local markets better than US-based stablecoin issuers.
A report published by Bloomberg on 23 May 2025, noted that most of the assets held by Tether complied with the new stablecoin bill, apart from Bitcoins and secured loans.
Tether has long been under scrutiny due to its failure to provide proof of reserves. However, during the interview, when asked about the same, Ardoino responded positively and explained that Tether has been in touch with auditing firms in recent times.
While the Big Four accounting firms do not audit the company’s reserves, BDO Italia SpA, the Italian chapter of the firm BDO Global, signs off on Tether’s quarterly attestations. According to its latest attestation released in March 2025, Tether had total assets valued at $149.28 billion against $143.68 billion in liabilities for fiat-backed stablecoin holdings.
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US Centric Coin To Launch Soon?
Speaking to a publication last week, coinciding with President Trump’s signing of the GENIUS Act, Ardoino confirmed Tether’s commitment to complying with the new bill and announced plans to meet foreign issuer standards. He also confirmed that Tether will operate two separate versions of its stablecoins.
Ardoino stated, “Institutions are used to super-efficient markets, and they will count the single basis point; and so, for that reason, we need to build something that is proper for this new market. The product built for those institutions will “focus on payments and high, high, high efficiency.”
The company envisions its US-centric coin as serving a different purpose than its widely circulated USDT. However, that coin is still in the pipeline, with no launch date in sight.
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Key Takeaways
Tether is keen on re-entering the US market and will begin work to comply with foreign issuers’ standards in the US
Tether leads the global stablecoin market with over $162 billion in circulation, which is an 18% increase since the start of this year
Paulo Ardoino, Tether’s CEO, has stated that the company has no intention of going public anytime soon
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