Tether Denies Blockchain Development Plans

Tether CEO Paolo Ardoino has denied reports that the company behind the largest stablecoin, $USDT, is developing its own blockchain.

The rumor originated from a market analysis report suggesting Tether was working on a 'stablechain.'

Ardoino took to social media to set the record straight, stating unequivocally that Tether has no plans to build a blockchain and relies on established blockchain infrastructure.

Tether's current approach focuses on maintaining stability and liquidity across multiple networks, with $USDT having a market capitalization exceeding $100 billion.