Tether Eager To Re-Join US Market Following 2021 Withdrawal
Recent reports indicate that Tether is gearing up to re-establish its presence in the US market, influenced by more favorable crypto asset regulations in the nation.
In an interview with Bloomberg dated 23 July 2025, Tether’s CEO, Paolo Ardoino, highlighted the company’s advancement in its US expansion strategy following the enactment of groundbreaking stablecoin legislation last week.
During the discussion, Ardoino remarked, “We are actively working on finalizing our US domestic strategy. Our focus will be on the US institutional markets, offering an efficient stablecoin for payments as well as for interbank settlements and trading.”
Experts anticipate that the GENIUS ACT (Guiding and Establishing National Innovation for U.S. Stablecoins) will reshape global finance by allowing banks, payment processors, and tech companies to issue their stablecoins.
Tether makes its comeback in the US, leveraging the GENIUS Act, now targeting banks and interbank settlements. Circle faces real competition, banks are on edge. Stablecoins have become a permanent fixture in the financial system.
If you’re sitting out, you’re just an observer.#Tether #USDT #GENIUSAct pic.twitter.com/5CJJ7ozQd3
— Venorys (@Venorys) July 24, 2025
In 2021, regulators prohibited Tether from operating within the US and mandated the firm to pay a substantial $60 million fine to New York State and the US Commodity Futures Trading Commission (CFTC) to resolve misleading claims.
Nevertheless, Tether’s USDT has maintained its trajectory despite regulatory challenges, as it continues to dominate the global stablecoin trading market with more than $162 billion in circulation, reflecting an 18% rise since the beginning of the year.
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Tether To Maintain Focus On Local Markets Outside US
During the discussion, Ardoino indicated that Tether has no intentions of going public, unlike Circle, which went public in June this year and experienced a stock surge exceeding 500%.
“In general, going public is not on our agenda,” he mentioned. He further stated that the company will persist in targeting emerging markets while also expanding operations in the US.
Ardoino elaborated that Tether’s international presence provides a competitive edge, as demonstrated by USDT’s substantial adoption in regions like Latin America, Africa, and Asia, reinforcing the idea that the firm has a superior understanding of local markets compared to US-based stablecoin providers.
A report from Bloomberg on 23 May 2025 highlighted that most of Tether’s assets complied with the new stablecoin legislation, except for BTC and secured loans.
Tether has faced ongoing scrutiny due to its inability to provide reserve proof. However, during the interview, when questioned about this, Ardoino responded affirmatively and shared that Tether has recently been in contact with auditing firms.
While the Big Four accounting firms do not audit the company’s reserves, BDO Italia SpA, the Italian branch of BDO Global, verifies Tether’s quarterly attestations. According to its most recent attestation released in March 2025, Tether held total assets amounting to $149.28 billion against $143.68 billion in liabilities tied to fiat-backed stablecoin holdings.
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US-Focused Crypto token On The Horizon?
In an interview with a publication last week, coinciding with the signing of the GENIUS Act by President Trump, Ardoino affirmed Tether’s commitment to adhere to the new legislation and announced intentions to comply with foreign issuer standards. He also noted that Tether plans to release two distinct versions of its stablecoins.
Ardoino expressed, “Institutions expect highly efficient markets, and they will account for every single basis point; therefore, we need to develop a product that meets the needs of these new markets. The product tailored for those institutions will be centered on payments and extreme efficiency.”
The firm imagines its US-centric coin as fulfilling a unique role compared to its widely utilized USDT. However, this coin is still in development, and a launch date has yet to be established.
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Key Takeaways
- Tether is eager to make a return to the US market and plans to start complying with the standards of foreign issuers in the US
- Tether remains the leader in the global stablecoin market with over $162 billion in circulation, marking an 18% increase since the start of the year
- Paolo Ardoino, Tether’s CEO, has indicated that the firm has no desire to become a public company anytime soon
The post Tether Keen To Re-Enter US Crypto market After 2021 Retreat appeared first on 99Bitcoins.
