Tether Aims for US Market Re-Entry Amid Regulatory Shift and Stablecoin Boom

Stablecoin issuer Tether has announced plans to re-enter the US crypto market amid the stablecoin boom. In what is considered to be a significant move that has the potential to reshape the American digital payments landscape, Tether is ready to capitalize on the friendlier regulatory environment now that new federal legislation has passed in favor of crypto.

Paolo Ardoino, CEO of Tether, confirmed in an interview with Bloomberg that the blockchain company is in the process of actively developing a domestic strategy. Their strategy is focused on institutional use cases such as crypto trading, interbank settlements, and payment processing.

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Tether Aims for A US Market Re-Entry

This key moment in the US crypto market history follows President Donald Trump’s signing of the GENIUS Act just last week. The GENIUS Act is considered to be a landmark legislation expected to widen the adoption of stablecoins across the financial sector in the country.

Paolo Ardoino said, “We are well in progress of establishing our US domestic strategy. It’s going to be focused on the US institutional markets, providing an efficient stablecoin for payments but also for interbank settlements and trading.”

The GENIUS Act opens the door for banks, credit card networks, and technology firms to issue their own stablecoins under a clear legal framework. For Tether, which has long operated offshore due to past regulatory clashes, the law signals a potential turning point.

Tether's increased interest in the US is a change from its earlier stance. After paying around $60 million to settle allegations brought by authorities, the company has mostly kept out of the US market since 2021. The New York Attorney General's office said that Tether made false representations regarding its reserves, and the Commodity Futures Trading Commission (CFTC) later punished the company for doing the same thing.

Despite the controversies, Tether’s USDT stablecoin remains the dominant force in the market, with more than $162 billion in circulation, a figure that has grown 18% since the start of 2025. In comparison, its nearest competitor, Circle’s USDC, has a supply of approximately $64.7 billion.

Tether’s re-entry also comes at a time when competition is intensifying. Circle went public in June, and its stock has soared more than 500% since its debut. Despite this, Ardoino reiterated that Tether is not pursuing a public listing.

“In general, we are not interested in becoming a public company,” he stated.

Instead, Tether appears focused on solidifying its hold in emerging markets while selectively engaging with US institutions. Ardoino reaffirmed that developing economies remain a top priority, describing Tether’s longstanding presence there as a core advantage.

“This is something that Tether has done incredibly well for the past 10 years,” he said. “We have a better technology, we have a much better understanding of this market than anyone else.”

Although Tether continues to face criticism over its opaque reserve disclosures, Ardoino said the firm has recently re-engaged with auditing firms to improve transparency, a promise made repeatedly in the past but yet to yield a full audit.

As stablecoins inch closer to mainstream financial infrastructure under the GENIUS Act, Tether’s re-emergence in the US may signal both a maturing market and a renewed effort by legacy crypto firms to align with evolving regulatory norms.