Tether’s New Move: USAT Stablecoin via Rumble
Hello my all friends, how are you all? I hope you are well. Friends, today I am sharing with you some big news in the world of cryptocurrency, which has recently been at the center of discussion in the crypto world. The news is that the popular stablecoin issuer Tether has now adopted a new strategy to enter the US market.
As we all know, Tether is not new to the crypto world. They have been operating a stablecoin called USDT for many years. However, they had previously withdrawn from the US market for various reasons. This time, they are looking to re-enter the market with a new stablecoin called USAT. And for this, they have come up with a very innovative plan—that is, working hand in hand with the video streaming platform Rumble.
In 2024, Tether invested about $775 million and acquired about 48% ownership of Rumble. Through this, they have created a strong position on this platform, which is a major competitor to YouTube. Now, they are looking to spread USAT among Rumble users.
Tether CEO Paolo Ardoino recently announced at a conference in Singapore that Rumble is going to launch a crypto wallet this year, which will be built using Tether’s technology. Through this wallet, Rumble’s approximately 51 million monthly active users will be able to easily use stablecoins. The main goal is to gradually accustom this large number of users to crypto transactions.
It is worth noting that Tether’s move is not just to launch a new stablecoin, but also to strengthen its position in the United States. Because USDT once faced problems under pressure from US regulators. This time, they want to return to the market anew, but in a much more cautious and strategic way.
On the other hand, Rumble founder Chris Pavlovski had previously announced that they would launch a wallet for Bitcoin and stablecoins. As a result, this partnership with Tether could also be profitable for Rumble, as it will be able to bring new types of users and investors to their platform.
Not only that, but it is rumored that Tether is planning to raise money on a larger scale. They are trying to raise about $20 billion, which could take their company's valuation to $500 billion. If successful, Tether will be among the most valuable technology companies in the world.
I think this initiative could have a big impact on the future of cryptocurrency. Because when large platforms and a large number of users are connected, the spread of a digital currency is much faster. If Tether can successfully implement its plan, a new horizon will be opened for the use of stablecoins around the world, including the United States.
Finally, my personal opinion is that this is a new step not only for crypto but also for our financial system. However, it also comes with risks. How regulators and governments accept this initiative is a matter of concern.
Friends if want to read full article check link
Thats a very ambitious project from Tether. However, I do have a my qualms against this project. I have several questions that I am not sure tether has addressed.
As we all know, changing the makeup that you use does not make you a different person nor does changing your hair cut.
Tether has been involved in several controversial issues which is why they were facing tons of pressure from US authorities.
So, I still believe that if they did not fix these issues, then a new stable coin name is just adding cosmetic on top of a a farm brick so that it looks like a concrete brick. It will still break and the scrutiny and pressure from the authorities will still come.
That said, they will need to prove to the US market they are safe, reliable and compliant. Otherwise, they will be taken with caution. Just a personal opinion, what do you think?