At the Token2049 event in Singapore, Tether CEO Paolo Ardoino announced the launch of a new stablecoin, named USAT, which targets the US market. The promotional campaign for this digital currency will utilize the Rumble platform. As reported, Rumble plans to roll out a cryptocurrency wallet supported by Tether by the end of the year, which aims to increase the use of stablecoins among its 51 million active users in the US.
Tether’s Strategy to Promote Stablecoin via Rumble
In his panel discussion, Ardoino emphasized Rumble’s shift towards a crypto-friendly infrastructure, simplifying access to Tether’s new digital dollar for millions of Americans. Highlighting the US as a leader in financial systems, he pointed out that the USAT coin has been developed in adherence to local regulations. Last year, Tether invested $775 million in Rumble, acquiring approximately 48% of the platform’s shares.
Launched last month, USAT assures users with its dollar-backed structure. After USDT achieved a global supply of $174.6 billion, the company introduced this new US-based product to provide a more regulation-friendly framework.
Tether’s Expansion Plans
Tether is not only expanding within the stablecoin market but also venturing into other sectors. In 2024, the company, which earned around $13 billion, is investing in areas like telecommunications and energy infrastructure. According to recent reports, Tether is in talks to raise up to $20 billion, based on a $500 billion valuation.
Ardoino revealed plans for potential new investments in Africa to enhance the energy and payment infrastructure. The company aims to establish 100,000 to 150,000 kiosks in the region by 2030. This initiative seeks to strengthen the dollar-based economy of USDT and boost financial inclusivity. Consequently, Tether is gearing up to play a more significant role not only in the cryptocurrency market but also in the global economic ecosystem.
