Tether CEO: The influx of new users and the resonance of economic downturn have led to explosive growth in stablecoins

Odaily Planet Daily News: Paolo Ardoino, CEO of Tether, said in an interview recently that the rapid growth of stablecoins is driven by changes in user structure and macroeconomic factors. He pointed out that since 2020, many middle-aged people who had not been exposed to cryptocurrencies have been influenced by young people to understand and use stablecoins such as USDT. In addition, under the impact of economic downturn, soaring prices, depreciation of local currencies and high unemployment rates, many families in developing countries are facing financial pressure. Stablecoins have become an alternative financial tool for some users to cope with difficulties because of their functions such as storage, cross-border remittances and daily payments.