Tether CEO: No Plans for Proprietary Blockchain Development

Tether, the company behind the popular USDT stablecoin, has no intentions to launch its own blockchain, according to CEO Paolo Ardoino. Despite previously considering the idea, Tether has decided against developing a native network.

"We are very strong in technology, but launching a native blockchain might not be the right move," Ardoino stated. "There are already other good solutions on the market."

Tether's decision not to create its own blockchain marks a shift in the company's strategy. The stablecoin issuer had previously explored the possibility of developing its own network but has now opted to focus on other priorities.

Ardoino's comments provide clarity on Tether's future plans, which have been the subject of speculation within the crypto community. The company's decision to forgo launching its own blockchain suggests it will continue to operate on existing networks like Ethereum and Tron.

Tether's USDT is the largest stablecoin by market capitalization, with a circulating supply of over $80 billion. The stablecoin is widely used for trading, lending, and payments across various crypto platforms.

While Tether has chosen not to pursue a native blockchain, other stablecoin issuers, such as Circle with USDC, have opted to develop their own networks to gain more control over the ecosystem. Tether's decision to focus on existing solutions highlights its confidence in the current market landscape and its ability to thrive without a proprietary blockchain.