Tether CEO, Paolo Ardoino, has continued to praise the work of Tether in defending the interests of the United States by enhancing the use of the dollar globally.
The CEO was speaking in a recent interview and said:
“We are actually the last stronghold for U.S. dollar hegemony out there,” says Ardoino.
“If you go to Africa, if you go to central South America, you don’t see the U.S. there. You see a lot of libraries and schools and highways built by China.”
[TECH] STABLECOINS | ‘We Have 400 Million Users in Emerging Markets – We’re Basically Pushing Dollar Hegemony, Selling U.S Debt Outside the U.S,’ Says Tether CEO: Tether is currently the 17th largest.. https://t.co/B9NgyF7CeK via @BitcoinKE
— Top Kenyan Blogs (@Blogs_Kenya) March 9, 2025
Recently, several countries have moved toward de-dollarization, citing its negative impact on their economies and seeking to reduce their dependence on what they view as U.S. financial dominance.
Africa has played witness to several such efforts, most recently from Zambia which in July 2024 said it would be banning the use of the U.S. dollar in local transactions to protect its local currency.
REGULATION | Bank of Zambia Plans to Criminalize Foreign Currency Use Amid Kwacha Rally – https://t.co/XCx2LnjDEV https://t.co/MhCXCDHMVx
— Zambia travels tours (@zambia_travels) July 4, 2024
Other than Zambia, Uganda, Tanzania, and Zimbabwe also introduced de-dollarization measures in 2024.
REGULATION | Tanzania Stops Accepting Dollar Payments in the Tourism Sector to Stabilize the Local Currency
The move is one of the steps taken in recent months to stabilize the local currency which has lost 6% to the dollar in the last one year, with a dollar fetching 2,655… pic.twitter.com/qqkQzyc2Kt
— BitKE (@BitcoinKE) July 16, 2024
African countries are also increasingly aligning with the BRICS economic bloc, which prioritizes de-dollarization and reducing U.S. influence on the global stage.
The alliance, which expanded to ten nations in 2024, is however not looking to use a single currency to replace the dollar but intends to increase the use of national currencies in trade.
BRICS | Ethiopia
and Egypt
Among 6 New Nations Joining BRICS Starting January 2024
Broadening the scope of the coalition is a component of BRICS strategy to establish influence and restructure worldwide governance into a ‘multipolar’ global arrangement that prioritizes the… pic.twitter.com/JpDt44pJjt
— BitKE (@BitcoinKE) August 25, 2023
Nonetheless, according to Ardoino, China and BRICS are actively challenging the dollar’s status as the world’s reserve currency – a status that lets the U.S. borrow cheaply and that gives it massive influence over the global financial system.
“If there is a huge push for de-dollarization in the emerging markets, there is only Tether that is pushing out there, that is building infrastructure to prevent that,” notes Ardoino.
Ardoino, who in February 2025 signed a Memorandum of Understanding (MoU) with the government of the Republic of Guinea to promote responsible blockchain adoption, has plans to diversify the business of Tether, including the building of solar-powered kiosks in Africa where customers pay a few stablecoins each month to rent batteries.
MILESTONE | @Tether_to Partners with the Republic of Guinea, the First Govt Partnership in Africa
This builds on Tether’s strong track record of working with govts and institutions worldwide to promote responsible blockchain adoption.https://t.co/EJfBoWhsW6 $USDT pic.twitter.com/7lxQ36sTEM
— BitKE (@BitcoinKE) February 20, 2025
“We can build the best telecommunication network that is truly unstoppable and resistant to an asteroid or the apocalypse,” he says.
“I want to build artificial intelligence that will not steal people’s data and will not kill humans,” he added.
“I see in #Africa, there is so much excitement and so much appetite . . . we just want to be part of the story.” – @paoloardoino CEO, @Tether_to
Full interview: https://t.co/zY87Ewolbx $USDT pic.twitter.com/lvMyy8IYRg
— BitKE (@BitcoinKE) February 5, 2025
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