Tether CEO Paolo Ardoino has dismissed recent speculation about the company’s plans to launch a proprietary blockchain network.
In a November 3 article on X, Ardoino clarified that Tether has no plans to create its blockchain. He highlighted the company’s position, writing:
“Tether has no plans to create an official blockchain at this time.”
Tether, the issuer of USDT – the world’s largest stablecoin with a market capitalization of over $120 billion – operates on more than ten blockchain networks. These include Ethereum, Solana, TON, Aptos and Algorand.
Why Tether is not launching a blockchain network
Ardoino explained that Tether values “neutrality” and prefers not to centralize its operations through a proprietary blockchain. Instead, the company is focused on supporting USDT integration on existing networks, including supporting gas fees.
Ardoino reinforced Tether’s primary interest in partnerships with other companies and communities. He emphasized that the company’s mission is “Unstoppable TogETHER”, aligning with a collaborative approach rather than attempting to consolidate control under its chain.
Ardoino does not rule out the possibility of launching a blockchain in the distant future. However, he noted that his statement was an attempt to “not rule out any possibilities.”
Blockchain networks
Tether’s position contrasts with a recent industry trend, where more companies are developing their own blockchain networks.
Centralized exchanges like Coinbase and Kraken have entered the space with their layer 2 Ethereum networks, Base and Ink, respectively. Likewise, DeFi platform Uniswap presented its scaling solutionUnichainand identity-focused crypto project World launched World Chain.
At the same time, other DeFi players like Aave are exploring the development of networks tailored to their user communities.
However, critics like Andre Cronje, co-founder of Sonic Labs, warn against the rush to build new networks. He points to challenges such as high infrastructure costs, fragmented liquidity, and limited developer support, suggesting that these factors could hinder widespread adoption of these proprietary networks.
