ChainCatcher reported that according to Be In Crypto, Tether CEO Paolo Ardoino recently emphasized the important role of USDT in driving demand for the US dollar in emerging markets.
Ardoino revealed that more than 300 million people around the world use USDT as a digital dollar to provide basic financial services to communities in developing countries. This stablecoin improves the efficiency of fund transfer and storage, bypassing the traditional financial system that often excludes the underserved. This means that if Tether's USDT usage scale is equivalent to a country, its economic size will exceed that of countries like Indonesia, Pakistan, and Nigeria. Therefore, the high acceptance of USDT has a significant impact on the global financial system.
Ardoino noted that Tether is one of the top three buyers of short-term U.S. Treasuries globally, and is also among the top 20 buyers overall. This reflects Tether’s growing influence in the financial sector and the increasing integration of virtual assets with the traditional financial system. Ardoino’s comments came in response to an article that stated that dollar-backed stablecoins fueled demand for U.S. public debt.
