Tether Reaches 400M Users, CEO Paolo Ardoino Envisions a 'Stablecoin Multiverse'

Tether, the company behind the world's largest stablecoin USDT, has reached a major milestone with over 400 million users worldwide

Tether, the company behind the world’s largest stablecoin USDT, has reached a major milestone with over 400 million users worldwide, according to CEO Paolo Ardoino.

This achievement marks a huge step toward the company’s goal of reaching one billion users. The success comes as Ardoino envisions what he calls a “stablecoin multiverse.”

He believes this new era will see hundreds of companies and governments launching their own stablecoins in the near future.

“A new era begins : the stablecoin multiverse. Hundreds of companies and governments are launching (or will soon) their stablecoins.

I'm very proud to see such massive adoption of a technology that Tether created back in 2014 🙏

Good luck everyone ♥️”

A new era begins : the stablecoin multiverse.

Hundreds of companies and governments are launching (or will soon) their stablecoins.

I'm very proud to see such massive adoption of a technology that Tether created back in 2014 🙏

Good luck everyone ♥️— Paolo Ardoino 🤖 (@paoloardoino) March 27, 2025

This prediction follows news that Fidelity Investments is entering the stablecoin space. The move signals growing interest from major financial institutions in the rapidly expanding sector.

Fidelity’s digital assets division, which already handles Bitcoin, Ethereum, and Litecoin, will lead this initiative. This shows how traditional finance is now embracing the technology.

On the regulatory front, Ardoino has opened the door to creating a domestic US stablecoin.

“We are going to watch the bill for the requirements of the US domestic stablecoins and we would be open to create a domestic stablecoin in the US,” he stated on the “On the Brink” podcast.

He noted this would require a different business model. The US market is one Tether has not actively targeted before, making this a potential new growth area.

Tether’s relationship with regulators has been rocky. In 2021, the Commodity Futures Trading Commission (CFTC) ordered Tether to pay $42.5 million in fines over reserve disclosures.

The company has recently worked to improve its image. Ardoino noted on the podcast, “We work with the DOJ almost daily, and the Treasury.”

Tether now has a connection in the US government. Commerce Secretary Howard Lutnick, previously Chairman and CEO of Cantor Fitzgerald, has been a vocal supporter of Tether.

Under Lutnick’s leadership, Cantor Fitzgerald began managing Tether’s reserves in late 2021 and acquired a 5% ownership stake.

In addressing long-standing questions about its reserves, Tether is working with one of the “Big Four” professional services firms. This full audit is a “top priority” according to Ardoino.

Earlier this month, Tether appointed Simon McWilliams as its new CFO. The new executive is expected to help facilitate this full audit.

Tether’s Strategic Expansion Beyond Crypto

Tether is also expanding beyond cryptocurrency. The company became the second-largest shareholder of Be Water, an Italian media company that controls Will and Chora Media.

Tether secured a 30.4% stake following a €10 million capital increase.

This media investment gives Tether influence in digital content distribution. According to company statements, Tether plans to enhance digital content distribution and integrate new technological solutions.

The stablecoin issuer is also entering agriculture. Tether has a transaction agreement with Adecoagro S.A., a sustainable production firm in South America.

The deal would have Tether acquire up to 70% of Adecoagro’s outstanding common stock at $12.41 per share in cash.

Adecoagro focuses on sustainable agricultural practices in South America. This investment represents Tether’s largest entry into conventional markets beyond financial technology.

Despite competition, USDT maintains its market dominance. According to Visa on-chain analytics for March 2025, USDT recorded $357.35 billion in transaction volume, far ahead of USDC’s $207.80 billion.

However, Circle’s USDC has been gaining ground. USDC recently hit a record market cap of $60.2 billion, surpassing its previous 2022 peak.

Over the past three months, USDC expanded its supply by $16.6 billion compared to USDT’s $4.7 billion.

Ardoino has emphasized Tether’s grassroots approach to growth.

“We always focused on the adoption from the ground up, working in the streets, among other people, while traditional finance was watching at us from their ivory towers,” he said.

This approach has helped USDT become a widely used tool for remittances, savings, and everyday transactions in countries with currency instability or limited banking access. Focus on practical