Stablecoin Company CEO: "Tether is Swallowing Global Dollar Demand"

▲ Tether (USDT), Dollar (USD)/AI Generated Image

Bernardo Bilotta, CEO of the stablecoin company Stables, stated that a significant portion of global dollar demand is shifting towards Tether (USDT).

According to a report by Bitcoin.com, Bilotta explained that the movement of migrant funds is a key factor driving USDT demand. He emphasized that USDT has become a major means in the cross-border remittance market, accounting for approximately 60% of dollar-based transaction demand.

Bilotta pointed out that the Asian region accounts for about 50% of the global stablecoin flow. However, he noted that banks in major financial hubs such as Singapore, Hong Kong, and Jakarta still show a passive attitude towards the adoption of stablecoins.

He explained that banks are making strategic decisions driven by regulatory risks, not a lack of technological understanding. Maintaining a relationship with the central bank is the most crucial element in bank operations, so expanding stablecoin exposure when regulatory directions are unclear is a significant burden, he analyzed.

Bilotta stated, "Even just processing stablecoins can create risks in relationships with regulatory authorities," adding that banks are hesitant to make long-term investments in a rapidly changing policy environment.

He also explained that Tether and e-stables are supporting the issuance of regional currency-based stablecoins, thereby complementing the dollar-centric structure. It was suggested that in the future, regional payment systems might evolve into a structure where local stablecoins handle the final settlement stage.

The combined demand for migrant remittances and fund movements centered in emerging markets continues to drive the expansion of USDT-based cross-border dollar demand.

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