Tether has decided to launch a new digital asset pegged to the Mexican peso, which will further facilitate cryptocurrency adoption in the Central American country. USDT According to Paolo Ardoino, stablecoins.
In an off-market interview with Cointelegraph World Economic Forum At the summit, the CTO of Tether and Bitfinex stated that his reason for coming to Davos was to demonstrate the utility of cryptocurrencies.
“I didn’t go to Davos to meet the chief executives of the big banks,” he said. “We’re here to deliver our message [that] There is a big world out there that needs to be encrypted in a secure way. “
Paolo Ardoino, CTO of Tether, said that the increase in demand for cryptocurrencies in the Latin American region drove their decision to expand their business. https://t.co/Ig7Y524VT2
— Cointelegraph (@Cointelegraph) May 26, 2022
Tether sees growing demand for cryptocurrency and stablecoin products in Mexico, especially among businesses.To meet this demand, the company announced on Thursday that it will launch a new Peso-backed stablecoins In Ethereum (Ethereum), Tron (TRX) and polygons (MATIC) The internet. Ardoino confirmed to Cointelegraph that the “MXNT” currency pair will begin trading on Bitfinex next week.
Describe USDT as a bridge to Bitcoin (bitcoin), Ardoino said he believes the dollar-pegged stablecoin will succeed in attracting the next 2 billion crypto users. However, in order for more people to use USDT, his company must partner with local banks to offer “other types of Tether.”
When asked about prospects Mexico adopts bitcoin as legal tenderproposed by a Mexican senator Create cryptocurrency regulations In light of El Salvador’s BTC law, Ardoino said he is “bullish about the case that many countries will need sooner or later, [to accept] Bitcoin. “
— Cointelegraph (@Cointelegraph) February 23, 2022
However, the path for Bitcoin to become legal tender in Mexico will be more complicated than in El Salvador, as the former already has an official currency. So while bitcoin may not reach fiat currency status anytime soon, it could become a “de facto fiat currency” along with the peso, he said.