Tether CEO Denies Company Plans to Launch Its Own Blockchain
Paolo Ardoino says Tether will not launch its own chain, while Stripe and Circle invest $1B in stablecoins.
Tether CEO Paolo Ardoino has publicly dismissed speculation that the company is preparing to launch its own blockchain. He stated that no Tether blockchain is in development, clarifying the firm's position amid ongoing industry chatter.
The denial comes as traditional payments and crypto firms increase their focus on stablecoin infrastructure. Stripe and Circle have reportedly committed $1 billion to stablecoin-related ventures, signaling heightened competition and interest in the sector.
Tether, which issues the largest stablecoin by market cap, USDT, has historically operated across multiple networks including Ethereum, Tron, and others. Ardoino's remarks reinforce that the company plans to continue supporting existing chains rather than building a proprietary one.
Context: Stablecoins are digital assets pegged to traditional currencies, widely used for trading and payments. The recent capital influx from Stripe and Circle highlights the growing mainstream adoption of these instruments.