Tether CEO: "Explosive Demand for Stablecoins Amid Economic Uncertainty... Expanding into Everyday Payments"
Summary
- Paolo Ardoino, CEO of Tether, explained the background for the increase in demand for stablecoins.
- He particularly noted that in developing countries suffering from economic instability, stablecoins such as USDT have spread as a financial alternative.
- During economic downturns, stablecoins have played a role as a store of value and everyday payment method, helping address financial instability.
Paolo Ardoino, CEO of Tether, explained the background behind the increase in demand for stablecoins.
According to Wu Blockchain on the 20th (local time), in an interview with Bankless, he stated, "Since around 2020, due to the influence of younger generations, even middle-aged and older groups have become aware of stablecoins. In developing countries suffering from economic uncertainty, stablecoins like USDT have expanded as a practical financial alternative."
He said, "During periods of recession, some developing countries have faced situations where families' livelihoods are threatened by rising prices, currency depreciation, and increasing unemployment," and added, "At such times, stablecoins have served as a solution amid financial instability, being used as a store of value, for cross-border payments, and as a means of everyday payment."
Suehyeon Lee
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