Founded in 2014, Tether pioneered the concept of fiat-collateralized stablecoins on the blockchain. By issuing tokens pegged 1:1 to reserve currencies like the US dollar, Tether enabled frictionless transfers between crypto and traditional finance. This bridged real-world money into Bitcoin and later Ethereum as a trustless quote currency.
In doing so, Tether accelerated mainstream crypto adoption by immunizing traders against volatility while retaining blockchain advantages like instant transfers, transparency and non-custodial access across borders. No longer did crypto exposure need worth the risks of extreme value fluctuations during the trading process.
Over its eight year history, Tether has cemented itself as the reference stablecoin across decentralized finance with dominant market share over 75 billion in circulation. It beat competitors to prove valid use cases, cultivating trust within the crypto community. The collateralized model brought familiarity that encouraged wider participation.
Yet Tether has also faced existential crises around its reserve backing—culminating in an $18 million fine this year. But by democratizing participation for crypto outsiders, it succeeded in its mission to funnel real-world capital into digital finance mediums and enhance inclusion. For better or worse, crypto economic expansion relies partly on stable assets consumers understand.
Guest: Paolo Ardoino, CEO Tether
Tether website ➜ https://tether.to/en/
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