Tether CEO Paolo Ardoino announced the company’s focus on overseas markets while navigating U.S. stablecoin laws, revealing plans for a compliant stablecoin and a full audit with a Big Four firm to enhance transparency.

GENIUS Act Sparks Concerns Among Stablecoin Issuers

On May 25, 2025, Tether CEO Paolo Ardoino outlined the company’s strategic direction in an interview, emphasizing a continued focus on overseas markets amid evolving U.S. stablecoin legislation.

Ardoino highlighted Tether’s close monitoring of the GENIUS Act, a U.S. bill introduced in February 2025 to regulate stablecoin issuers. The Act, which cleared the Senate Banking Committee, aims to impose stricter oversight on larger issuers like Tether by the Federal Reserve and the Office of the Comptroller of the Currency.

Despite these regulatory pressures, Ardoino expressed confidence in Tether’s global user base, particularly the 3 billion unbanked people worldwide who rely on USDT for financial access.

To address transparency concerns, Tether is in talks with a Big Four accounting firm for a full audit of its reserves, a significant step beyond its current quarterly reports. This follows the appointment of Simon McWilliams as CFO in March 2025 to steer the company toward greater financial accountability. 

Ardoino also revealed plans to launch a compliant stablecoin tailored for institutional investors, potentially positioning Tether to compete with U.S.-focused stablecoins like Circle’s USDC. 

Tether Prioritizes Full Audit for Regulatory Compliance

Tether’s strategic moves come amid a rapidly evolving stablecoin landscape, where regulatory clarity and competition are reshaping the market. The GENIUS Act could force Tether to comply with transparent reserve requirements to operate in the U.S., especially as competitors like USDC gain traction with institutional investors.

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However, Ardoino remains unfazed by the rise of bank-issued stablecoins which noting that major U.S. banks are exploring joint stablecoin issuance. Tether’s focus on the unbanked aligns with its historical mission, as a 2024 Chainalysis report indicated that USDT dominates stablecoin transactions in emerging markets, accounting for over 70% of volume in regions like Africa and Southeast Asia.

Tether USDt is advancing US Dollar hegemony across all emerging markets, with more than 450M users especially in developing countries, growing 30M+ per quarter. pic.twitter.com/nXWuQnOAI7

— Paolo Ardoino (@paoloardoino) April 18, 2025

The push for a full audit could address long-standing criticisms of Tether’s reserve opacity, potentially boosting its credibility among regulators and institutional players. Tether’s reserves, heavily backed by U.S. Treasury securities through its partnership with Cantor Fitzgerald, have been a point of contention, especially with figures like Howard Lutnick, Trump’s Commerce Secretary, tied to the firm. 

As Tether navigates these challenges, its ability to balance global expansion with regulatory compliance will be crucial in maintaining its dominance in the $246 billion stablecoin market.

Source: DefiLlama

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