Tether says it will continue to focus on markets outside the United States and plans to launch compliant stablecoins to attract institutional funds

Odaily Planet Daily News: Although the US Congress is promoting stablecoin regulatory bills such as the Genius Act, Tether, the world's largest stablecoin issuer, said that its main business focus will still be on markets outside the United States. Tether CEO Paolo Ardoino said that the company is concerned about how the bill distinguishes between local and foreign issuers, and hopes to maintain global business expansion under the premise of compliance. Currently, Tether's USDT occupies more than 60% of the global stablecoin market, and users are mainly distributed in emerging markets. Ardoino pointed out that compared with the diverse payment systems in the United States (such as Zelle, PayPal, etc.), Tether's service focuses on the 3 billion unaccounted users in the world who have not yet fully accessed the traditional financial system. Although it does not directly serve US customers at present, most of Tether's reserve assets have met the requirements of the proposed regulations, and some assets such as Bitcoin and mortgages are still beyond the scope of compliance. Ardoino said that the company is considering issuing a new stablecoin that fully complies with regulatory standards to attract institutional investors, and is promoting the audit of reserve assets by the Big Four accounting firms. He added: "Full audit is our top priority." (Bloomberg)