Tether Shifts Focus to International Markets Amid US Regulatory Developments

**Tether** will continue to focus on markets outside the United States, despite Congress reviewing bills aimed at integrating **stablecoins** into the financial system. This was stated by CEO Paolo Ardoino in an interview with **Bloomberg TV**.

On May 20, the Senate endorsed the passage of the GENIUS Act. The House Financial Services Committee has approved its own legislation to regulate «stablecoins,» although this bill is still pending a full vote.

«It is crucial for us to understand how the GENIUS Act delineates between foreign and domestic issuers. However, our primary interest will remain beyond U.S. borders,» Ardoino remarked.

The legislative requirements concerning stablecoins mandate full backing by cash and «safe assets,» such as Treasury bonds. Issuers will also be subject to the Bank Secrecy Act and anti-money laundering regulations.

Most of Tether’s reserves comply with the expected U.S. standards, but the use of certain assets, including secured loans and Bitcoin, will be restricted. Ardoino mentioned that the company is considering how to meet these requirements while prioritizing international markets.

Tether’s USDT capitalization has **surpassed $150 billion**, commanding a roughly 60% share of the market. The company, headquartered in **El Salvador**, serves 420 million users in developing countries.

«Stablecoins are undeniably important in the U.S., but the reality is that there are countless ways to transact with one another using Zelle, PayPal, debit and credit cards, cash—however you prefer,» Ardoino explained.

According to the **WSJ**, a consortium of major American banks, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, is exploring the possibility of jointly issuing a **stablecoin**. Tether’s head expressed that he is not concerned about potential competition from these institutions, as they “will be looking at the Western world.”

«Our customer base comprises three billion people who do not have bank accounts or access to the banking system,» Ardoino emphasized.

Nevertheless, he confirmed that the company **might launch** a U.S.-compliant stablecoin that would appeal to institutional investors.

As a reminder, according to crypto mogul **David Sachs**, the passage of the GENIUS Act could **increase demand** for U.S. government bonds «by trillions of dollars.»