“Fiat Currencies Are Memecoins With Additional Steps,” Claims Tether CEO Paolo Ardoino
Amidst the various provocative remarks and daring assertions made at the Token2049 event in Dubai on April 30, 2025, Tether CEO Paolo Ardoino’s observation stood out. “Fiat currencies are memecoins with extra steps,” he stated. While it may sound outrageous, there is some validity to his claim.
As Ardoino elaborated, humans are responsible for the creation of fiat currencies, altering them every few years; sentiments shift, and decisions are made based on these evolving feelings. Consequently, “as memecoins, they are highly unpredictable.”
Beyond his spicy comments, Ardoino provided legitimate insights regarding the adoption of stablecoins in today’s financial context and its future influence on the worldwide economic structure.
Tuning in to Paolo Ardoino from Tether at TOKEN2049 — fascinating insights on stablecoins and the future of crypto! Guy Young, from $ENA can also be spotted.#Token2049 @paoloardoino @token2049 @ethena_labs @gdog97_ pic.twitter.com/Z6mEJBTCnv
— Tyrion Trades (@TradesTyr) April 30, 2025
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The Expanding Role of Stablecoins in Trade Financing
Ardoino noted that in the past year, there has been a noticeable increase in the adoption of stablecoins. According to him, prior to 2020, most of Tether’s applications were in crypto trading. However, during and after COVID, emerging markets shifted, with individuals increasingly utilizing stablecoins as a safeguard against their rapidly declining national currencies compared to the US dollar.
The younger generation’s word-of-mouth recommendations have significantly contributed to the mainstream acceptance of stablecoins among older individuals as a method for saving and executing payments promptly.
Ardoino mentioned that currently, 37% of USDT users engage with the asset for savings purposes. Moreover, 30% of USDT users utilize it for payment settlements (including cross-border remittances), while the remainder is linked to crypto trading. Reflecting on the institutional acceptance of USDT, Ardoino highlighted that Tether is currently witnessing substantial adoption in trade finance for commodity transactions.
Stablecoins present a compelling value proposition for businesses involved in time-critical operations, such as oil shipments, where companies cannot offload barrels of oil at the dock until payments are processed, which can take anywhere from 5 business days to two weeks.
“I believe the next significant growth for USDT from 1.40 billion today to 1 trillion will stem from trade finance,” he concluded.
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The Role of Stablecoins in Unifying Local Economies
“The world is gradually moving back towards localisation,” Ardoino remarked, though he maintained that money will still remain globalised. He indicated that with recent tariff announcements, nations are incentivized to cultivate their domestic markets.
“I envision every national currency becoming tokenised, allowing people to quickly choose their preferred method. They can transfer money and value transparently. It is essential that all transactional value occurs on-chain while enabling countries to focus more inwardly and safeguard their markets, as that will define the future,” he expounded.
When asked about potential concerns from nations regarding the adoption of stablecoins over their national currencies and any possible price ceiling from local authorities, Ardoino stated that USDT currently facilitates remittances flowing from countries like the US and Europe into nations with weaker national currencies.
On average, remittances account for 20% of GDP in emerging markets, with some instances rising to 80%. Additionally, the lower costs associated with transferring funds greatly empower recipients, allowing them to retain more of their earnings.
Furthermore, as businesses and consumers in emerging markets predominantly import in dollars, there is a growing acceptance of stablecoins to facilitate quicker and more efficient transactions.
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Key Takeaways
- Remittances account for 20% of GDP in emerging markets
- The value proposition of stablecoins lies in enabling immediate cross-border, time-sensitive payments
- 37% of Tether users utilize USDT for savings, and 30% for payment settlements
The article “Fiat Currencies Are Memecoins With Extra Steps,” States Tether CEO Paolo Ardoino first appeared on 99Bitcoins.
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