Tether executive: The company is returning to the U.S. market, aiming to become the country's dominant stablecoin issuer

PANews September 17th news, according to Bloomberg, Bo Hines, a digital asset and U.S. strategy adviser, Tether Holdings SA, said that Tether is returning to the U.S. market, aiming to become the country's dominant stablecoin issuer and replicate overseas success. Last week, Tether announced the new token USAT plan, led by Hines, and launched in partnership with Cantor Fitzgerald LP and others. It aims to provide instant settlement and reduce costs, and is specially customized for the US market. Tether CEO Paolo Ardoino said the company's advantage lies in the distribution network it has built over the past 11 years, while competitor Circle expanded its business by sharing revenue with Coinbase, etc. Ardoino said Tether does not need to rent distribution channels and has its own channels. Although Circle announced its listing in a high-profile manner, Tether has no intention of following the example, as the company made a profit of $13.7 billion last year and did not need to raise funds. Instead, it plans to develop through investment businesses such as building new distribution channels, and has invested $5 billion in the United States, including a $775 million investment in Rumble Inc.