Tether plans to launch a stablecoin product in the United States as soon as this year

Stablecoin issuer Tether plans to launch a stablecoin product in the United States as soon as this year, the stablecoin issuer's CEO, Paul Ardoino, said in an April 30 CNBC interview.

Tether's flagship stablecoin, USDT (USDT), is already the US dollar's top "exporter," boasting a market capitalization of nearly $150 billion, according to data from CoinGecko.

Now, Tether is preparing to expand into the US market "by the end of this year or early next year, at the fastest," Ardoino said, adding that the timing depends on US lawmakers' progress on stablecoin legislation.

The stablecoin issuer is working to win over US regulators by proactively collaborating with law enforcement and highlighting USDT's benefits for the US economy.

"We are just exporters of what we believe to be the best product the United States ever created — that is, the US dollar," the CEO said.

As of April 25, USDT commanded a roughly 66% market share among stablecoins, according to Web3 researcher Nanson.

Tether is also the most profitable stablecoin issuer, having logged a net income of nearly $14 billion in 2024.

It earns revenue by accepting US dollars to mint USDT and then investing those dollars into highly liquid, yield-bearing instruments such as US Treasury bills.

Yet, despite its popularity, USDT's footprint in the United States remains limited, with rival stablecoin USDC (USDC) enjoying greater adoption in the country.

Tether designed USDT "for the people that live in small villages in Africa... [or] a shop owner in Istanbul," Ardoino said, adding that they are developing a "different product" for the US.

Adoption of USDC has been seen to be accelerating in the wake of US President Donald Trump's November election win, Nanson said in a report.

Together with its market capitalization of more than $60 billion, according to CoinGecko, USDC is still likely to retain its leading position in the stablecoin market.

"Despite the potential dispersion in stables, we inevitably believe this is a 'winner-takes-most' market dynamic," the researcher added.