Tether CEO: New user influx resonates with economic downturn leading to explosive growth of stablecoins

Odaily Planet Daily News: Tether CEO Paolo Ardoino recently stated in an interview that the rapid growth of stablecoins is driven by both changes in user structure and macroeconomic factors. He pointed out that since 2020, many middle-aged people who were not originally exposed to cryptocurrency have been influenced by young people to learn about and use stablecoins such as USDT. In addition, under the impact of economic downturn, soaring prices, currency depreciation, and high unemployment rates, many households in developing countries are facing financial pressure. Stablecoins have become an alternative financial tool for some users to cope with difficulties due to their functions such as stored value, cross-border remittance, and daily payments.