Tether CEO: Developing Countries Accelerate Adoption of USDT to Combat Currency Devaluation

Tether CEO Paolo Ardoino stated on August 23 that developing countries such as Venezuela, Argentina, Bolivia, and Turkey are increasingly using USDT, primarily for domestic and cross-border trade. In situations of rapid local currency devaluation, shortages of US dollars, or restricted financial systems, USDT is being utilized as a digital dollar and a store of value. Small and medium-sized enterprises in Venezuela use USDT for settling import and export transactions, Bolivia has adopted it for commercial transactions including fuel purchases, Argentina's street economy and peer-to-peer markets widely use USDT for value preservation and exchange, and residents in Turkey are using USDT to cope with ongoing inflation.

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