On May 2nd, according to information from CoinDesk, Tether's CEO Paolo Ardoino revealed in an interview with CNBC that the company is preparing to launch a completely new product, likely a digital payment service. This product is expected to expand Tether's accessibility in electronic payment services, with the goal of serving both individual users and financial institutions.
Mr. Ardoino stated that Tether is focusing on developing a groundbreaking payment solution that can directly compete with prominent platforms in the current market, such as PayPal's CashApp. This is an important step in Tether's business diversification strategy, helping the company not only be limited to the role of USDT stablecoin issuer but also expand into digital financial infrastructure.
Tether's entry into the payment service sector could open a new era for decentralized finance (DeFi), as blockchain companies begin to directly compete with giants in the traditional financial technology industry. The emergence of this new product will mark an important step in integrating stablecoins into global payment systems, promoting convenience, speed, and low costs in cross-border transactions.
