Tether CEO Paolo Ardoino has dismissed latest hypothesis concerning the firm’s plans to launch a proprietary blockchain community.
In a Nov. 3 publish on X, Ardoino clarified that Tether doesn’t intend to create its blockchain. He emphasised the corporate’s place by writing:
“Tether is just not planning to construct an official blockchain presently.”
Tether, the issuer of USDT—the world’s largest stablecoin with a market cap of over $120 billion—operates throughout over ten blockchain networks. These embody Ethereum, Solana, TON, Aptos, and Algorand.
Why Tether is just not launching a blockchain community
Ardoino defined that Tether values “neutrality” and prefers to not centralize its operations via a proprietary blockchain. As a substitute, the corporate is concentrated on supporting USDT integration throughout present networks, together with assist for gasoline charges.
Ardoino furthered Tether’s main curiosity in partnerships with different firms and communities. He emphasised that the corporate’s mission is “Unstoppable TogETHER,” aligning with a collaborative method quite than making an attempt to consolidate management beneath its chain.
In the meantime, Ardoino didn’t rule out the potential of launching a blockchain within the distant future. Nonetheless, he famous that his assertion was an try to “not exclude any chance.”
Blockchain networks
Tether’s stance contrasts with a latest development within the business, the place extra companies are growing their very own blockchain networks.
Centralized exchanges like Coinbase and Kraken have entered the house with their Ethereum layer-2 networks, Base and Ink, respectively. Equally, the DeFi platform Uniswap launched its scaling answer, Unichain, and the identity-focused crypto challenge World launched World Chain.
On the similar time, different DeFi gamers like Aave are exploring community improvement tailor-made to their person communities.
Nonetheless, critics like Sonic Labs co-founder Andre Cronje warning in opposition to the frenzy to construct new networks. He highlights challenges akin to excessive infrastructure prices, fragmented liquidity, and restricted developer assist, suggesting these elements could inhibit the widespread adoption of those proprietary networks.
