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#1442 Paolo Ardoino | Bitcoin Is The Perfect Currency Says Tether CEO

11/22/2024 · 26 min · transcript via mlx

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Key topics

— Tether's stablecoin (USDT) serves primarily emerging and developing markets where people lack banking access or face severe currency devaluation, not the U.S. market which has abundant payment alternatives.

— USDT adoption is accelerating at 30+ million new wallets per quarter on-chain, with 130+ million total wallets and tens of millions more using USDT on centralized exchanges.

— Institutional adoption is growing in commodity trading, cross-border payments, and remittances—where stablecoins reduce friction and costs on transparent blockchain rails versus traditional banking.

— Tether has become a significant buyer of U.S. Treasury securities (roughly $100 billion), decentralizing foreign debt ownership and providing resilience to the dollar through millions of individual holders.

— The relationship between stablecoin issuers and nation-states will likely be cooperative rather than adversarial, as stablecoins boost dollar adoption, facilitate remittances, and stabilize emerging economies.

— Bitcoin remains the superior long-term store of value and wealth preservation tool; USDT serves as an on-ramp to help unbanked populations eventually move toward Bitcoin.

Market & price signals

— None discussed.

Actionable insights

— Investors seeking exposure to stablecoin growth should consider building or investing in remittance platforms, cross-border payment networks, and commodity trading infrastructure that leverage USDT and similar stablecoins rather than speculating on the coins themselves.

— As emerging-market adoption accelerates and remittances flow through stablecoins, entrepreneurs can capture value by creating programmable-money applications (settlement, trade finance, yield-bearing instruments) that serve underbanked populations without treating stablecoins as securities.

Episode sponsorships

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