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Tether is in talks with a Big Four accounting firm to conduct a full audit of its reserves, responding to demands for greater transparency. CEO Paolo Ardoino emphasized the audit as a priority, noting the supportive US regulatory environment, though details on the firm and timeline remain unspecified. As of December 31, 2024, Tether held over $94 billion in US Treasury bills and $108 million in cash, with Cantor Fitzgerald managing the majority of its Treasury assets.
Binance will delist all non-compliant stablecoin trading pairs, including Tether (USDT) and Dai (DAI), for users in the European Economic Area by March 31, 2025, in compliance with the EU's MiCA regulations. Users can still hold, deposit, and withdraw these stablecoins, but trading will cease, with margin trading restrictions starting March 27, 2025. Binance encourages users to convert to compliant options like USD Coin (USDC) before the deadlines to avoid automatic conversions and potential liquidation risks.
MANSA, a fintech innovator in cross-border payments, has secured $10 million in funding to enhance its stablecoin-based liquidity solutions, addressing critical challenges in global transactions. Co-founded by Mouloukou Sanoh and Nkiru Uwaje, the company aims to expand into Latin America and Southeast Asia, facilitating faster and more affordable payment solutions. With a focus on financial inclusion, MANSA has already achieved significant transaction volume growth, leveraging partnerships to reshape the payment landscape.
Tether, the largest stablecoin issuer, is relocating its headquarters to El Salvador after obtaining a Digital Asset Service Provider license. CEO Paolo Ardoino confirmed that while management will move, most of the 100+ employees will remain remote. This move aligns with El Salvador's ambition to be a digital currency hub, following its historic adoption of Bitcoin as legal tender.
Tether is relocating its business to El Salvador after acquiring a Digital Asset Service Provider license, aiming to enhance global Bitcoin adoption. The move aligns with El Salvador's innovative stance on cryptocurrency, where Tether has previously engaged in projects like a citizenship program and a Bitcoin mining initiative. CEO Paolo Ardoino emphasized the importance of this transition for fostering collaboration and focusing on emerging markets.
Tether is relocating its operations to El Salvador after acquiring a Digital Asset Service Provider license, joining Bitfinex Derivatives in the move. The stablecoin issuer aims to leverage the country's bitcoin-friendly policies to enhance financial inclusion and support the adoption of digital assets in emerging markets. CEO Paolo Ardoino emphasized the alignment with El Salvador's vision for financial freedom and innovation.
Tether, the issuer of the USDT stablecoin, is relocating its operations to Bitcoin-friendly El Salvador after acquiring a Digital Asset Service Provider license. This move aligns with the country's vision of financial freedom and innovation, as it aims to attract tech entrepreneurs and strengthen its regulatory environment.Despite Tether's significance in the crypto market, it faces scrutiny over transparency regarding its reserves and has denied reports of a U.S. investigation into potential violations of sanctions and anti-money-laundering rules. El Salvador continues to evolve as a digital nomad hub, attracting crypto businesses like Bitfinex, which recently announced its own relocation to the country.
Tether has relocated its headquarters to El Salvador after obtaining a Digital Asset Service Provider (DASP) license, aligning with the country's pro-Bitcoin policies. This move aims to enhance Bitcoin adoption and financial inclusion in underserved regions, as Tether seeks to leverage El Salvador's supportive regulatory framework for developing new solutions.
Tether has announced plans to relocate its headquarters and subsidiaries to El Salvador after securing a license to operate as a Digital Asset Service Provider. The move is driven by the country's favorable regulatory environment and a growing Bitcoin-savvy community, aligning with Tether's vision of financial freedom and innovation. CEO Paolo Ardoino emphasized the commitment to empowering people through decentralized technologies.
Stablecoins surged to a record $187.5 billion in supply in 2024, driven by demand in emerging markets and their use as a hedge against volatility. However, their rise has raised regulatory concerns, as they now account for a majority of illicit transactions, surpassing Bitcoin in this regard. As the market evolves, stablecoins are becoming critical financial infrastructure, with potential growth to $500 billion or even $1 trillion by 2025, despite ongoing regulatory challenges.
Paolo Ardoino
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