Tether CEO: USDT indispensable in emerging economies

Tether CEO Paolo Ardoino says that dependence on USDT in emerging economies is growing further. Venezuela, Argentina, Bolivia and Turkey are countries where the stablecoin is increasingly used, both for daily payments and for international trade. According to Ardoino, USDT fills a gap created by local currencies rapidly losing value and dollars being difficult to obtain.

In brief:

• Tether CEO Paolo Ardoino states that USDT plays a central role in the economies of several emerging countries.
• Use cases range from import and export settlement in Venezuela to inflation protection in Turkey.
• Ardoino sees financial inclusion as the core of Tether’s mission.

USDT as a digital dollar in countries with currency problems

In countries where the local currency depreciates rapidly and access to dollars is limited, USDT is increasingly used as an alternative payment method. Ardoino shared his vision on 23 August via his X account.

In Venezuela, USDT is used for the settlement of imports and exports. In Bolivia, it is mainly a matter of business transactions, while in Argentina, peer-to-peer trading via USDT is popular. In Turkey, where inflation has been high for years, people use the stablecoin to protect the value of their savings.

Ardoino: financial inclusion more important than ever

According to Ardoino, emerging economies are no longer only informally involved with digital assets, but there is a structural dependence on USDT for both domestic and cross-border transactions. He sees this as confirmation of Tether’s mission.

The use of stablecoins as a solution for financial accessibility is also attracting wider attention. The CEO of Circle also previously stated that stablecoins solve real financial problems, particularly in regions where traditional banking services are insufficiently available. USDT currently trades at $1.00, in line with the dollar peg.