According to Odaily Planet Daily, Tether CEO Paolo Ardoino said that the stablecoin USDT is an encryption technology developed by Tether in 2014. It has now been adopted by many individuals and governments, with hundreds of millions of users worldwide.

He believes that USDT is not only a "cryptocurrency" but should also be regarded as a digital dollar. Through USDT, Tether has established a checking and savings account for people living in countries with extreme inflation and underdeveloped banking, introducing a checking and settlement system.