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Investing.com -- Tether Holdings SA is developing plans to re-enter the US market following the passage of new cryptocurrency legislation signed by President Donald Trump last week.
"We are well in progress of establishing our US domestic strategy," Tether CEO Paolo Ardoino said Wednesday during a Bloomberg Television interview. "It’s going to be focused on the US institutional markets, providing an efficient stablecoin for payments but also for interbank settlements and trading."
The company issues USDT, the world’s most traded cryptocurrency by volume, which is designed to maintain a stable value pegged to the US dollar.
The legislation, known as the Genius Act, could expand stablecoin usage beyond crypto market transactions into areas such as cross-border transfers and business payments. The new law may also create opportunities for banks, card networks, and technology companies to issue their own stablecoins.
Ardoino was present at the White House when Trump signed the stablecoin legislation into law, joining other crypto and financial industry leaders at the ceremony.
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