In an interview with Bloomberg, Tether CEO Paolo Ardoino addressed rumors of launching his own blockchain. He explained that despite Tether’s technical capabilities, blockchains are becoming a “public good” in the market and that adopting a proprietary blockchain may not be the right move. With a market cap of $115 billion, Tether is the most widely used stablecoin on the market. Arduino pointed out that blockchains for Tether are just transport layers. Reports show that the five largest blockchain networks hold about 86% of the total value of equity locked (TVL) of the 306 networks. Tether’s decision to remain neutral on the blockchain reflects the company’s focus on expanding USDT’s acceptance and usability across multiple networks.
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