Unlike other stablecoin issuers, Tether says it is focused on offering stablecoin services to the world’s unbanked, which amounts to over 300 million people.
The main purpose of the world’s largest stablecoin, Tether USD (USDT), is to help people in inflation-stricken economies protect their purchasing power, according to Tether CEO Paolo Ardoino.
In an exclusive interview with Cointelegraph, Ardoino said Tether’s main focus is to help the unbanked population who don’t have access to traditional banking gain access to USDT.
Rampant inflation is forcing people in emerging economies to increasingly look for external financial alternatives, such as the U.S. dollar. This issue is especially pressing in Argentina, where the national currency lost 98% of its value against the dollar, according to Ardoino.