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Stablecoin Tether's recent growth is being driven by its use as an alternative to the U.S. dollar in emerging markets, rather than by demand for cryptocurrency trading, Tether CEO Paolo Ardoino told Reuters on Friday. Tether issues a stablecoin, also called Tether or USDT, which is designed to maintain a constant value of $1 and is widely used in crypto-to-crypto trading. It has grown rapidly in recent years, hitting more than $100 billion worth of Tether tokens in circulation in March.

United arab emiratesRepublic ofCity ofUnited kingdomTommy reggiori wilkesMark potterPaolo ardoinoFederico maccioniElizabeth howcroftInternational settlementsEditing tommy reggiori wilkes