Tether CEO says 500M people use USDT at FII conference
Tether CEO Paolo Ardoino said that 500 million people worldwide use USDT during the Future Investment Initiative conference in Riyadh, Saudi Arabia.
In his speech, Ardoino talked about the importance of digital currencies and blockchain technology. He said that as many national currencies lose value against the U.S. dollar, stablecoins can give countries another way to make payments, allowing faster transactions, protection from inflation, easier trading, and access to money for people without bank accounts.
Ardoino also spoke about financial inclusion, saying that many people in developing countries still struggle to access basic banking services. He noted that blockchain-based assets like USDT can help reduce problems such as high money transfer fees, weak financial systems, and poor internet connections, giving more people and small businesses a chance to join the global economy.
He added that the use of stablecoins is growing quickly, with USDT’s market cap increasing by millions of dollars every day. Today, USDT’s market capitalization is over $183 billion.
We have in our reserves $88.3 billion, plus $7 billion of excess reserves and $23 billion of undistributed profits that we’re keeping in the company to keep building out the global footprint for the new generation of dollars,Ardoino said.
Tether continues to expand beyond stablecoins. In September 2025, the company announced investments in gold mining, and in October, it launched an open-source wallet kit for AI developers. At the event, the Tether CEO said the company is already earning more profit than Goldman Sachs and expects that to remain the case over the next ten years.
Future Investment Initiative (FII9) takes place from October 27 to 30. Speakers at the conference include figures from both traditional and decentralized finance, such as BlackRock Chairman and CEO Larry Fink, Circle co-founder Jeremy Allaire, and former Coinbase CTO Balaji Srinivasan. Larry Fink noted growing investor interest in Saudi Arabia, while JPMorgan’s new EMEA co-head Conor Hillery predicted a wave of large mergers and acquisitions across Europe next year in an interview on the sidelines of the conference. Overall, business leaders discussed global investment trends, innovation, and new technologies.
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