Paolo Ardoino has said that Tether will continue to exist with CBDCs in the near future. The Chief Technology Officer (CTO) of Bitfinex and Tether made the statement after the recent push from government.
“In the long term, we believe that Tether will continue to exist alongside CBDCs,” the Tether CTO said to Cointelegraph, citing the token’s performance on several different blockchains including Algorand, Ethereum, EOS, Liquid Network, Omni and Tron. “Tether will remain in demand as it continues serving and unifying a variety of ecosystems.”
According to a report earlier, it stated that the Japanese government was planning CBDC. Bank of England governor Andrew Bailey said the institution was also considering the issuance of a digital pound.
Ardoino was of the opinion that it is not possible for CBDCs to replace Tether (USDT). He said that it was due to replace Tether (USDT). His opinion was agreed by some digital yuan experts.
Cointelegraph reported Charles Yang of Genesis Block said China could not easily stop the circulation of USDT, despite any threat it may pose to capital controls and oversight. Hundreds of millions of dollars in Tether are traded every day in the Asian nation.