Tether to tap Rumble through upcoming wallet to drive USAT adoption in US
Tether CEO Paolo Ardoino stated that the company plans to utilize the video streaming platform Rumble to promote the adoption of USAT, its newly launched stablecoin specifically designed for the U.S. market.
During a panel discussion at Token2049 in Singapore on Wednesday, Ardoino said that Rumble intends to soon launch a crypto wallet powered by Tether's technology later this year.
"The aim there is to prove how we can convert [Rumble's] 51 million [monthly] active users, mostly in the United States, to use stablecoins within the U.S., the most sophisticated country nation for financial rails," said Ardoino.
Tether announced a $775 million investment in Rumble last year and now holds about a 48% stake in the social media platform, according to Bloomberg data.
Last month, Tether launched USAT, a dollar-backed stablecoin designed for U.S. users, to build on USDT's global footprint under a U.S. regulatory framework. USDT remains the world's largest stablecoin, with a supply of $174.6 billion, according to The Block's data dashboard.
While Tether has been profitable — earning about $13 billion in 2024 — it is expanding into sectors beyond crypto, including telecommunications and energy infrastructure. Last week, Bloomberg reported that Tether is in talks with investors to raise up to $20 billion at a $500 billion valuation.
With the potential new funding, Tether will be able to expand into new sectors, Ardoino said at Token2049. "We think that we can scale up to 100,000 to 150,000 kiosks by 2030 [in Africa]. That would be a massive economy around USDT and the dollar that is of much interest in that region," he added, highlighting the company's push into the region's energy infrastructure sector.
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