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Ardoino Denies Tether Blockchain Plans Amidst Stablecoin Growth

Guavy AI Editorial Team
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Tether CEO Paolo Ardoino has denied plans to launch its own blockchain, contrary to recent reports. In an X post on August 15, Ardoino stated that Tether is not building a blockchain and has no plans to do so.

The clarification came after reports suggested that Tether was among companies developing dedicated infrastructure for stablecoins, alongside payment processing firms like Stripe (developing Tempo) and Circle (developing Arc).

Tether's USDT supply continues to grow, with approximately 184.6 billion units in circulation as of June 30, an increase of about $446 million from the prior quarter.

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