Key Takeaways
- Tether is not launching an official blockchain, according to CEO Paolo Ardonio.
- Ardonio previously claimed that a Tether chain would not be the “right move” for the company.
- The Tether CEO noted that blockchains are only transport layers for them.
Tether CEO Paolo Ardonio has squashed potential rumors that the stablecoin issuer is launching an official blockchain.
The comments follow the CEO’s previous comments that launching a blockchain was not the right move for the company, despite claiming they will become commodities in the future.
Tether Blockchain Rumors Squashed
Ardoino posted on X on Sunday, Nov. 3, that Tether, the issuer of the world’s biggest stablecoin USDT, was “not planning to build an official blockchain at this time.”
Following up on Sunday’s comments, Ardoino claimed one of the main reasons behind Tether’s reluctance to build blockchain is that “neutrality is very important.”
“Unstoppable TogETHER, our motto, underlines our interest to partner up with other companies and communities rather than trying to centralize everything,” Ardonio wrote, noting that Tether will not be building a blockchain “at this time.”
The CEO reiterated that his company is supporting the integration of its stablecoins to support a variety of other Layer 2 solutions, such as for gas fees.
Saturated Blockchain Market
In an interview with Bloomberg in August, Ardonio noted that while there were some “very good blockchains,” launching one for Tether may not be the “the right move.”
“We are very good in technology, but I think blockchains will become almost a commodity in the future,” Ardoino added.
According to DefiLlama’s data, out of 306 chains globally, the top 5 control around 86% of the total value of assets locked.
This heavily saturated market is one of the main reasons Tether is staying agnostic when it comes to blockchains.
“For us, blockchains are just transport layers,” Ardoino added.
‘Tethember’ Pushed Back
At the beginning of November, the Tether CEO announced the company would be launching two new unnamed products.
Just two days later, Ardoino said the launch of the products had been pushed back by seven days in light of the election.
“Any product/announcement done this coming week would end up likely obliterated by the election noise,” Ardoino said. “Gotta push back new product release by 7 days.”
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
