Tether CEO Paolo Ardoino Announces AI Platform Debut in Early 2025

Tether, the issuer of USDT, is gearing up for an ambitious move into artificial intelligence (AI). Paolo Ardoino, Tether’s CEO, announced plans for a new platform enabling mobile users to interact seamlessly with AI tools. According to Bloomberg, the project aims to debut in the first quarter of 2025.

This development comes as Tether enjoys a banner financial year, with net profits exceeding $10 billion in 2024. Ardoino highlighted the company’s focus on innovation, stating, “Next year we plan to deploy at least half of the profits in investment. Our investment is just at the beginning.”

Record-Breaking Performance Fuels Growth

Tether’s market presence continues to expand, fueled by a crypto market surge and increasing demand for stablecoins. USDT’s market cap has grown to approximately $140 billion, a significant jump of nearly $50 billion this year, according to CoinMarketCap.

As Bitcoin surpassed the six-digit price milestone, demand for USDT skyrocketed. This year, the number of wallets holding USDT rose by an impressive 71%, with Tether reporting 109 million on-chain wallets by the start of Q4 2024.

USDT maintains its position as the top stablecoin, with four times more wallets than all competing stablecoins combined. Ardoino emphasized that these achievements reflect Tether’s ongoing commitment to enhancing adoption and utility across global markets.

Tether’s foray into AI reflects its strategy to diversify beyond its core stablecoin offerings. By allocating a substantial portion of profits to emerging technologies, the company is setting the stage for a broader role in tech innovation.