Tether CEO: The influx of new users and the resonance of economic downturn have led to explosive growth in stablecoins

Odaily News Paolo Ardoino, CEO of Tether, said in a recent interview that the rapid growth of stablecoins is driven by changes in user structure and macroeconomic factors. He pointed out that since 2020, many middle-aged people who had never been exposed to cryptocurrencies have been influenced by young people to understand and use stablecoins such as USDT.
In addition, under the impact of factors such as economic downturn, soaring prices, currency depreciation and high unemployment rate, many families in developing countries are facing financial pressure. Stablecoins have become an alternative financial tool for some users to cope with difficulties because of their functions such as value storage, cross-border remittances and daily payments.