Tether Rules Out Blockchain Build Amid $1 Billion Stablecoin Push

Tether CEO Paolo Ardoino has clarified that the company will not be building its own blockchain for USDT, contradicting claims from CoinMarketCap's research. The report had grouped Tether with Stripe and Circle in a stablechain push worth more than $1 billion.

Ardoino stated that Tether is 'NOT building any blockchain nor has plan to build one.' He emphasized the company's agnostic approach, supporting multiple transport layers for its stablecoins.

USDT remains distributed across networks such as Tron and Ethereum, with approximately $2.9 billion in annual fees paid by users to outside blockchains. Tether has chosen not to capture this revenue by building its own network.

This strategy allows the company to maintain liquidity for a stablecoin with a market capitalization near $183 billion while giving it flexibility to respond across networks. The decision comes as Circle expands USDC in several markets and develops Arc, while Stripe builds Tempo for stablecoin payments.