Tether CEO Paolo Ardoino Discusses Launch Of Dirham-Pegged Stablecoin, New Tokenization Platform

In a wide-ranging interview, Tether USDT/USD CEO Paolo Ardoino shared insights on the company's plans for expansion and its stance on regulatory issues, particularly in Europe.

What Happened: Ardoino told “The Big Whale” listeners about Tether’s launch of a stablecoin pegged to the UAE’s currency Dirham, first announced in August, citing its growing importance in global trade and remittances.

Ardoino also discussed Tether’s plans for a new tokenization platform, set to launch in late October. This white-label solution will package Tether’s technology for use by various financial players, particularly in Europe.

When asked about the future of stablecoins, Ardoino remained optimistic: “Stablecoins are the best use case for mass adoption because it’s not a new concept it’s just money moving on a different transport layer.”

Tether’s Relationship With U.S. And Europe

Regarding Tether's relationship with U.S. authorities, Ardoino emphasized the company's proactive approach to compliance. "We home boarded the U.S. Secret Services and the FBI on tar,” he stated, highlighting Tether's voluntary collaboration with law enforcement agencies.

On the topic of European regulation, specifically the Markets in Crypto-Assets (MiCA) framework, Ardoino expressed concerns about potential systemic risks. He explained, "60% of the reserves, have to keep six billion euro in uninsured cash deposits in the bank," which could lead to liquidity issues.

Despite ongoing regulatory challenges, Ardoino’s comments suggest that Tether is positioning itself for continued growth and innovation in the stablecoin market.

What’s Next: The growing role of stablecoins in finance is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

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