Tether CEO Paolo Ardoino announced that Tether (USDT) is set to launch a brand new fully non-custodial tokenization platform.
Ardoino described this new platform as a "masterpiece," emphasizing that it operates without any human intervention and can support a variety of digital assets. He mentioned that the platform can tokenize anything from bonds, stocks, and funds to coffee shop reward points. Additionally, he noted that their technology backs assets worth over $107 billion in USDT.
Furthermore, the CEO of Tether stated that this tokenization platform will support Bitcoin's (BTC) second-layer projects RGB and Liquid Network.
Ardoino highlighted that USDT is pegged 1:1 to the US dollar and is one of the largest stablecoins by market capitalization. He explained that many people living in countries with rapidly depreciating currencies use USDT as checking and savings accounts because they either don't have bank accounts or banks don't care about them. This demonstrates the practical use of stablecoins in the real world.
Earlier this year, Tether also refuted allegations from a United Nations subsidiary that USDT is frequently used by criminals for money laundering and fraud in parts of Asia.