Tether CEO Explains Why Stablecoins Are Booming

In an interview with Bankless, Tether CEO Paolo Ardoino explained that around 2020, many middle-aged individuals who had previously not been involved with cryptocurrencies began to learn about stablecoins under the influence of younger generations. During periods of economic downturn, some developing countries were hit especially hard — facing surging prices, currency devaluation, and high unemployment — leading many families into financial distress. At such times, stablecoins like $USDT were able to meet some of these families' needs, being used for value preservation, cross-border remittances, and everyday payments.

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