Stablecoin issuer Tether is preparing to debut an artificial intelligence platform.
Tether CEO Paolo Ardoino posted about the forthcoming launch on social platform X early Monday morning (May 5), saying the AI platform will allow users to make payments with bitcoin and the company’s own USDT stablecoin.
“A fully open-source AI runtime, capable to adapt and evolve on any hardware and device, no API keys, no central point of failure,” Ardoino wrote.
The announcement came days after Ardoino said Tether plans to introduce a new dollar-pegged stablecoin in the United States within a year.
The company, which is headquartered in El Salvador and is the world’s largest stablecoin issuer, is backing the GENIUS Actwhich would permit stablecoin issuers to operate in the U.S. if they agree to cooperate with law enforcement.
“It depends on the timeline of the final legislation … but we are looking at that by the end of the year, or early next year at the fastest,” Adroino told CNBC, referring to the new stablecoin.
The news followed reports from last month that Tether was weighing a U.S.-only stablecoinassuming the government puts forth rules encouraging new entrants to the market.
-Tether, whose tokens account for 70% of the overall stablecoin market, is the dominant player on offshore exchanges, emerging markets and decentralized finance protocols, where fiat banking access is limited or unreliable, PYMNTS wrote last week.
While the company has exited certain regulated markets in the pastthe changing U.S. cryptocurrency landscape could bring its stablecoin to America.
Also last week, Tether published its first-quarter attestation report carried out by global independent accounting firm BDO and said its USDT stablecoin is “viewed as a stable, efficient and accessible on-ramp to the global economy.”
In a statement included with the attestation report, Ardoino said: “With record U.S. Treasury exposure, growing reserves, strong profits and increased adoption of USDT worldwide, we remain focused on delivering trust, transparency and value to hundreds of millions of users. Our mission is clear: to responsibly and compliantly power the digital economy and strengthen the role of the U.S. dollar on the global stage.”
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