Tether plans US stablecoin launch as soon as this year — CNBC
Tether plans to launch a stablecoin product in the United States by the end of 2023 or early 2024, depending on legislative progress. Tether's USDT has a market capitalization of nearly $150 billion and holds a 66% market share among stablecoins. The company aims to collaborate with US regulators and law enforcement to promote USDT's benefits for the US economy. Tether reported a net income of nearly $14 billion in 2024, generating revenue by minting USDT with US dollars and investing in liquid, yield-bearing instruments. While USDT is popular outside the US, rival stablecoin USDC dominates the domestic market with a market cap over $60 billion. Despite competition, Tether is expected to maintain its leading position in the stablecoin market, characterized by a "winner-takes-most" dynamic.
