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Paolo Ardoino: "Other Flavors of Tether" is said to provide access to USDT

 




Paolo Ardoino stated that Tether's new stablecoin, which is pegged to the Mexican peso, will be a boon to crypto adoption in Mexico as it will allow better access for stablecoin USDT . 


In an exclusive interview with Cointelegraph at the World Economic Forum , the technology head of Tether and Bitfinex said he came to Davos to demonstrate the utility of cryptocurrencies.


"I didn't come to Davos to meet CEOs from big banks," said Ardoino. "We're here to spread our message that there's a big world out there that needs crypto in a secure way."


According to Tether, there is a growing demand for crypto and stablecoin products in Mexico, particularly from businesses. To meet this demand, the company announced on Thursday that it would launch a new stablecoin pegged to the peso and issued via Ethereum ( ETH ), Tron ( TRX ), and Polygon ( MATIC ). Ardoino confirmed to Cointelegraph that the “MXNT” pairs will be available to trade on Bitfinex starting next week.


Describing USDT as a bridge to Bitcoin ( BTC ), Ardoino said he believes the dollar-pegged stablecoin will attract the next 2 billion crypto users. However, to bring USDT closer to more people, his company needs to partner with local banks and offer “other flavors of Tether.


When asked how likely he thought it was that Mexico would adopt bitcoin as legal tender , Ardoino said he was "optimistic that sooner or later many countries will have to accept bitcoin". That has at least become a possibility after a Mexican senator proposed crypto regulation based on El Salvador's BTC law.

However, introducing Bitcoin as legal tender in Mexico will be more complicated than in El Salvador, as they already have an official currency. Although bitcoin may not become legal tender in the near future, it could "become a de facto legal tender" to be used alongside the peso, he explained.

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