全球金融中稳定菌的兴起

Tether的首席执行官Paolo Ardoino分享了他所谓的“ Stablecoin Multiverse”的愿景。在最近的声明中，他强调了稳定菌在全球金融体系中的作用日益增长。

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首席执行官Paolo Ardoino表示，随着“ Stablecoin Multiverse的出现”的出现，一个新时代已经突然出现。在最近的一份声明中，他强调了稳定菌在全球金融体系中的作用日益增长。

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.

随着全球稳定菌的采用不断增加，阿多利诺预测，我们很快将看到数百家公司和政府发起自己的稳定者。

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

这一大胆的预测是随着稳定市场越来越有竞争力的。尽管USDT仍然是主要的球员，但USDC迅速缩小了差距。

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

根据2025年3月的签证链分析数据，USDT的交易量为3573.5亿美元。

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.

这个数字超过USDC的20780亿美元。但是，最近几个月，USDC的增长速度更快。在过去的三个月中，USDC将其供应量增加了166亿美元，而USDT的47亿美元则将其供应量扩大。

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最近达到了602亿美元的创纪录市值。从2022年开始，这超过了其先前550亿美元的峰值。增长表明，对Circle的Stablecoin产品的市场信心不断提高。

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也为该行业的扩张做出了贡献。尽管有这些发展，但USDT与其最接近的竞争对手之间的差距仍然很明显。 Tether的早期市场进入和广泛的采用继续使它成为一个优势。

Institutions Join the Fray

机构加入竞争

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.

富达投资正在冒险进入Stablecoin领域，这表明这些数字资产中的机构兴趣更广泛。该公司的数字资产部门将率领这项倡议。

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.

该部门已经促进了比特币（BTC），以太坊（ETH）和Litecoin（LTC）的执行和监护服务。在其投资组合中添加Stablecoins代表了自然的扩展。它还为整个Stablecoin部门提供了信誉。

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声称，Tether的USDT在全球拥有超过4亿用户，预计这一数字将很快达到10亿。首席执行官强调了Tether对“从头开始的收养”的关注。

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.

他将这种方法与传统的财务观看“从他们的象牙塔”进行了对比。这种基层战略有助于维持其市场领导地位，并在多个国家和地区建立忠实的用户基础。

U.S. Presence and Regulatory Landscape

美国的存在和监管景观

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

Ardoino表示在美国创建国内稳定的稳定性。

"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”播客中说：“我们将根据美国国内稳定的要求观看该法案，我们将开放在美国创建国内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.

他承认这将需要不同的商业模式，而Tether将需要研究和了解如何在Tether传统上拥有有限的业务的美国市场运营。

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.

过去，Stablecoin发行人过去曾面临监管挑战。 2021年，商品期货交易委员会命令特特（Tether）支付4250万美元的罚款。该公司还看到，在MICA法规通过后，通过为欧盟服务的交流而设计的代币。

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.

尽管面临这些挑战，但系绳似乎仍在努力改善其与监管机构的关系。根据Ardoino的说法，该公司“几乎每天”与司法和财政部合作。这表明向更法规的合规转变。

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.

该公司现在在美国政府有联系。商务部长霍华德·卢特尼克（Howard Lutnick）此前曾担任坎托·菲茨杰拉德（Cantor Fitzgerald）的董事长兼首席执行官。在他的领导下，坎托·菲茨杰拉德（Cantor Fitzgerald）于2021年末开始管理Tether的USDT支持储备。

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.

为了提高透明度，Tether正在与“四大”专业服务公司之一互动，以对其财务进行全面审核。

"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在播客期间说：“审核是我们的优先列表的首要任务。” “我们的资产负债表非常容易。”此举旨在解决有关系带储量的长期问题。

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.

该公司最近任命了西蒙·麦克威廉姆斯（Simon McWilliams）为新的首席财务官，他将帮助促进完整的审计。 Ardoino表示，如果系绳发行了国内美国稳定的稳定性，它和国际USDT都会接受完整的审计。

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将自己定位为防御加密犯罪的防守者。该公司最近帮助冻结了与Bybit Hack连接的900万美元，他们将其描述为解决“历史上最大的加密货币盗窃”的帮助。

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.

这些行动表明，系特特正在努力使自己与过去的争议保持距离，并专注于与用户和监管机构建立信誉，这可以帮助确保其在不断发展的Stablecoin景观中的地位。