These reasons explain why Tether has not desired to create a new blockchain by the fact that the market is saturated and the company’s interests are aligned with existing blockchains.
Stablecoin issuer Tether has worked out that it is unnecessary to launch its own blockchain and has done so out of considerations of market saturation.
Speaking to Bloomberg News, the company’s CEO, Paolo Ardoino said that the company had considered the blockchain landscape and a saturated market to arrive at the position.
Ardoino said that for launching a blockchain is not the ‘right thing to do’ because ‘very good blockchains’ are out there in the world to be accessed.