Nikolas Sargeant
Tether CEO Paolo Ardoino has definitively ended speculation about the company launching its own blockchain. Through a recent X post, Ardoino stated, "Tether is not planning to build an official blockchain at this time."
On November 4, Ardoino emphasized that neutrality remains a core priority for the company. Rather than developing its own blockchain, Tether is focusing on integrating its stablecoin across existing networks and supporting gas fee initiatives.
The company aims to strengthen its collaborative approach, with Ardoino highlighting their motto "Unstoppable TogETHER" as a commitment to decentralization over centralization. This strategy recently manifested in Tether's launch of a Dirham-pegged stablecoin on TON Blockchain, developed in partnership with Phoenix Group and Green Acorn.
While Tether had planned to unveil two new products during "Tethember," these launches have been postponed due to the upcoming US elections, with Ardoino noting that any announcements would likely be overshadowed by election coverage.
Why Tether Is Staying Blockchain-Neutral
Tether's decision reflects its assessment of the blockchain market as increasingly saturated. In a Bloomberg interview, Ardoino predicted that "blockchains will become almost a commodity in the future."
Current market data supports this view. According to DefiLlama, among 322 blockchains, the top five chains control over 75% of total value locked (TVL), with Ethereum dominating at $47.64 billion, representing 55.24% of the market.
The company maintains that successful blockchains require optimal speed, low fees, and robust security. Ardoino emphasizes that remaining blockchain "agnostic" allows Tether to prioritize security and sustainability while maintaining its position as the leading stablecoin issuer amid growing competition.
