Tether CEO Paolo Ardoino Says USDT Use Is Rising in Developing Countries

• Paolo Ardoino says USDT adoption is rising across Venezuela, Bolivia, Argentina and Turkey amid currency pressures.
• Businesses and consumers increasingly use USDT for trade, payments, peer-to-peer transactions and value preservation.
• Dollar shortages, inflation and financial restrictions are driving demand for USDT across these developing markets.

Tether CEO Paolo Ardoino said Aug. 23 that USDT use is rising in Venezuela, Argentina, Bolivia and Turkey. According to CriptoNoticias, he said businesses and individuals increasingly use the stablecoin for domestic trade and cross-border payments. Ardoino linked the growth to currency devaluation, dollar shortages and financial restrictions affecting local markets.

Several developing Countries's economies are heavily relying on USDT, for both internal and foreign commerce.

Today, Tether's mission of financial inclusion, is more important than ever.

— Paolo Ardoino 🤖 (@paoloardoino) August 23, 2026

Ardoino said several developing economies now rely heavily on USDT for internal and foreign commerce. He also said Tether’s financial inclusion mission has become more important as stablecoin use expands.

Venezuela provides one example of the uses Ardoino described. Local businesses use USDT for import and export settlements, where traditional correspondent banking can create additional payment difficulties.

Venezuela and Bolivia See Commercial Use

According to data cited by the Venezuelan Chamber of Electronic Commerce, Venezuela has high per-capita digital asset adoption. The country has developed a mixed financial environment involving the bolívar, cash dollars and digital assets.

Bolivia has also seen wider USDT use since a shortage of physical dollars emerged in 2024. According to CriptoNoticias, USDT has entered commercial transactions, including fuel purchases.

The country’s Ministry of Economy and Public Finance is considering whether to integrate USDT into its payment system. The proposal would allow the stablecoin to circulate alongside the Bolivian boliviano.

Meanwhile, state-owned and private banks have integrated USDT into mobile applications. Peer-to-peer platforms have also recorded strong growth, according to the report.

Argentina and Turkey Show Different Uses

In Argentina, USDT has become widely used in the street economy and peer-to-peer market. Users turn to the stablecoin to preserve value and convert between USDT and pesos.

However, USDC is competing for business users that require formal tax and accounting treatment. This creates a different focus between retail and corporate stablecoin use.

Turkey has also become a market highlighted by Ardoino. Persistent inflation has encouraged people to use USDT as a way to protect purchasing power.

Across these countries, Ardoino’s comments focus on specific uses tied to local currency pressure. Those uses include trade settlement, peer-to-peer transactions and protection against inflation.