Tether once considered launching a blockchain but abandoned the plan due to supply and demand issues

ChainCatcher news, according to a report by Bloomberg, the issuer of the USDT stablecoin, Tether Holdings, had considered launching its own distributed ledger but later abandoned the plan. The company's CEO stated that the economic logic behind this is actually very simple: it is about supply and demand.

Tether CEO Paolo Ardoino said in an interview: "We are very good at technology, but I think blockchain will almost become a commodity in the future, and launching our own blockchain may not be a wise move. There are many good blockchains out there. As long as USDT has the highest level of security and sustainability during transactions, he is happy to maintain a development attitude regarding which blockchain its stablecoin is traded on. For us, blockchain is just a transmission layer."