Tether CEO Shuts Down Blockchain Rumors
Tether CEO Paolo Ardoino says the company is not building a Tether blockchain and has no plans to launch one, rejecting a widely shared analysis that put the stablecoin issuer inside a $1 billion race.
Ardoino posted the Tether denial on Saturday, one day after CoinMarketCap published research on so-called stablechains. Those networks exist for one job, moving digital dollars cheaply.
Why the Tether Blockchain Claim Took Off
The research grouped Tether with Stripe and Circle. It argued that all three want to own the rails their tokens ride on, and that they have together raised more than $1 billion for the effort.
Stripe leads that group with Tempo, a payments chain that already handles stablecoin payments for DoorDash couriers. Circle follows with Arc, a network aimed at institutional settlement.
Tether looked like the third member because it has backed Plasma and Stable, two separate stablecoin chains. Stable targets institutions and uses USDT to pay network fees. Plasma courts retail users and raised roughly $373 million in a token sale.
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