全球金融中穩定菌的興起

Tether的首席執行官Paolo Ardoino分享了他所謂的“ Stablecoin Multiverse”的願景。在最近的聲明中，他強調了穩定菌在全球金融體系中的作用日益增長。

A new era has dawned with the emergence of the "stablecoin multiverse," according to Paolo Ardoino, CEO of Tether. In a recent statement, he highlighted the growing role of stablecoins in the global financial system.

Tether首席執行官Paolo Ardoino表示，隨著“ Stablecoin Multiverse的出現”的出現，一個新時代已經突然出現。在最近的一份聲明中，他強調了穩定菌在全球金融體系中的作用日益增長。

As the adoption of stablecoins continues to increase across the world, Ardoino predicts that we will soon see hundreds of companies and governments launching their own stablecoins.

隨著全球穩定菌的採用不斷增加，阿多利諾預測，我們很快將看到數百家公司和政府發起自己的穩定者。

This bold prediction comes as the stablecoin market has become increasingly competitive. While USDT remains the dominant player, USDC is quickly closing the gap.

這一大膽的預測是隨著穩定市場越來越有競爭力的。儘管USDT仍然是主要的球員，但USDC迅速縮小了差距。

According to March 2025 data from Visa on-chain analytics, USDT recorded $357.35 billion in transaction volume.

根據2025年3月的簽證鏈分析數據，USDT的交易量為3573.5億美元。

This figure is more than double USDC's $207.80 billion. However, USDC has been growing at a faster rate in recent months. Over the past three months, USDC expanded its supply by $16.6 billion compared to USDT's $4.7 billion.

這個數字超過USDC的20780億美元。但是，最近幾個月，USDC的增長速度更快。在過去的三個月中，USDC將其供應量增加了166億美元，而USDT的47億美元則將其供應量擴大。

USDC recently hit a record market cap of $60.2 billion. This surpasses its previous peak of $55 billion from 2022. The growth shows increasing market confidence in Circle's stablecoin offering.

USDC最近達到了602億美元的創紀錄市值。從2022年開始，這超過了其先前550億美元的峰值。增長表明，對Circle的Stablecoin產品的市場信心不斷提高。

Other stablecoins like FDUSD and PYUSD are also contributing to the sector's expansion. Despite these developments, the gap between USDT and its closest competitors remains clear. Tether's early market entry and widespread adoption continue to give it an advantage.

FDUSD和PYUSD（例如FDUSD）的其他Stablecoin也為該行業的擴張做出了貢獻。儘管有這些發展，但USDT與其最接近的競爭對手之間的差距仍然很明顯。 Tether的早期市場進入和廣泛的採用繼續使它成為一個優勢。

Institutions Join the Fray

機構加入競爭

Fidelity Investments is venturing into the stablecoin domain, signaling broader institutional interest in these digital assets. The firm's digital assets division will be spearheading this initiative.

富達投資正在冒險進入Stablecoin領域，這表明這些數字資產中的機構興趣更廣泛。該公司的數字資產部門將率領這項倡議。

This division already facilitates execution and custody services for Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). Adding stablecoins to their portfolio represents a natural expansion. It also lends credibility to the stablecoin sector as a whole.

該部門已經促進了比特幣（BTC），以太坊（ETH）和Litecoin（LTC）的執行和監護服務。在其投資組合中添加Stablecoins代表了自然的擴展。它還為整個Stablecoin部門提供了信譽。

Ardoino claims that Tether's USDT already has more than 400 million users worldwide, and this number is expected to soon reach 1 billion. The CEO highlighted Tether's focus on "adoption from the ground up."

Ardoino聲稱，Tether的USDT在全球擁有超過4億用戶，預計這一數字將很快達到10億。首席執行官強調了Tether對“從頭開始的收養”的關注。

He contrasted this approach with traditional finance watching "from their ivory towers." This grassroots strategy has helped Tether maintain its market leadership and build a loyal user base across multiple countries and regions.

他將這種方法與傳統的財務觀看“從他們的象牙塔”進行了對比。這種基層戰略有助於維持其市場領導地位，並在多個國家和地區建立忠實的用戶基礎。

U.S. Presence and Regulatory Landscape

美國的存在和監管景觀

Ardoino has expressed openness to creating a domestic stablecoin in the United States.

Ardoino表示在美國創建國內穩定的穩定性。

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

他在“ Brink”播客中說：“我們將根據美國國內穩定的要求觀看該法案，我們將開放在美國創建國內Stablecoin。”

He acknowledged that this would require a different business model, and Tether would need to research and understand how to operate in the U.S. market, where Tether has traditionally had limited presence.

他承認這將需要不同的商業模式，而Tether將需要研究和了解如何在Tether傳統上擁有有限的業務的美國市場運營。

The stablecoin issuer has faced regulatory challenges in the past. In 2021, the Commodity Futures Trading Commission ordered Tether to pay $42.5 million in fines. The company has also seen its tokens delisted by exchanges serving the European Union following the passage of MiCA regulation.

過去，Stablecoin發行人過去曾面臨監管挑戰。 2021年，商品期貨交易委員會命令特特（Tether）支付4250萬美元的罰款。該公司還看到，在MICA法規通過後，通過為歐盟服務的交流而設計的代幣。

Despite these challenges, Tether appears to be working to improve its relationships with regulators. According to Ardoino, the company works with the Department of Justice and Treasury "almost daily." This suggests a shift toward more regulatory compliance.

儘管面臨這些挑戰，但係繩似乎仍在努力改善其與監管機構的關係。根據Ardoino的說法，該公司“幾乎每天”與司法和財政部合作。這表明向更法規的合規轉變。

The company now has connections in the U.S. government. Commerce Secretary Howard Lutnick previously served as Chairman and CEO of Cantor Fitzgerald. Under his leadership, Cantor Fitzgerald began managing the reserves backing Tether's USDT in late 2021.

該公司現在在美國政府有聯繫。商務部長霍華德·盧特尼克（Howard Lutnick）此前曾擔任坎托·菲茨杰拉德（Cantor Fitzgerald）的董事長兼首席執行官。在他的領導下，坎托·菲茨杰拉德（Cantor Fitzgerald）於2021年末開始管理Tether的USDT支持儲備。

Toward Greater Transparency

提高透明度

In a move toward greater transparency, Tether is engaging with one of the "Big Four" professional services firms to conduct a full audit of its finances.

為了提高透明度，Tether正在與“四大”專業服務公司之一互動，以對其財務進行全面審核。

"The audit is top of our priority list," Ardoino stated during the podcast. "Our balance sheet is very easy." This move aims to address long-standing questions about Tether's reserves.

Ardoino在播客期間說：“審核是我們的優先列表的首要任務。” “我們的資產負債表非常容易。”此舉旨在解決有關係帶儲量的長期問題。

The company recently appointed Simon McWilliams as its new CFO, who will help facilitate the full audit. Ardoino indicated that if Tether issues a domestic U.S. stablecoin, both it and the international USDT would undergo complete audits.

該公司最近任命了西蒙·麥克威廉姆斯（Simon McWilliams）為新的首席財務官，他將幫助促進完整的審計。 Ardoino表示，如果繫繩發行了國內美國穩定的穩定性，它和國際USDT都會接受完整的審計。

Furthermore, Tether has positioned itself as a defender against crypto crime. The company recently helped freeze $9 million connected to the Bybit hack, which they described as assistance in addressing "the largest cryptocurrency theft in history."

此外，Tether將自己定位為防禦加密犯罪的防守者。該公司最近幫助凍結了與Bybit Hack連接的900萬美元，他們將其描述為解決“歷史上最大的加密貨幣盜竊”的幫助。

These actions suggest that Tether is working to distance itself from past controversies and focus on building credibility with users and regulators, which could help secure its position in the evolving stablecoin landscape.

這些行動表明，系特特正在努力使自己與過去的爭議保持距離，並專注於與用戶和監管機構建立信譽，這可以幫助確保其在不斷發展的Stablecoin景觀中的地位。