Ardoino said that by adopting a stable cryptocurrency backed by pesos, Tether would be able to recreate the market with elements from Tether.
In addition, Paolo Ardoino said that the release of another digital asset, which will be backed by the Mexican peso, will bring positive moments for the adoption of cryptocurrencies in Latin countries, as well as increase stability for USDT coins.
During the World Economic Forum summit, the head of the Tether and Bitfinex organizations announced that his visit to Davos was related to demonstrating the benefits that cryptocurrencies provide.
“The participation in Davos was not held in order to have a meeting with the directors of well-known banks. All of this has been orchestrated to deliver our message to everyone in the world that has a need for decentralized digital assets and their security.”
The head of Tether on the technical side said that the increase in demand for cryptocurrency in Latin American countries led to the idea of expanding the business. The organization has determined that the need for digital assets and stablecoins is growing, especially among Mexican businessmen.
In order to fully meet demand with assets, the organization announced the launch of a stablecoin. Its support in quotes will be the peso. It can be used with the Ethereum, Tron and Polligon networks. Trading on MXN pairs will be implemented soon on the Bitfinex platform.
Seeing USDT as a link to bitcoin, Ardoino envisioned that an asset with a direct link to the dollar would succeed in the interest of two billion digital asset owners. To increase this indicator, the organization must actively work with the territorial banking authorities, which will promote other variants of Tether.
Speaking about the prospect of legalizing bitcoin as an official currency in Mexico, Ardoino said that his belief that many countries will adopt the first currency much earlier than planned is stronger than ever. This became a real chance due to the nomination by the Mexican senator of the idea of legalizing the norms for cryptocurrency units based on the legislative framework of Salvator on Bitcoin.
Despite this, the ways of legally recognizing cryptocurrency as an official payment element in Mexico will be more difficult than in the same Salvatore. This is due to the presence of an official currency. It turns out that Bitcoin may not be given legal currency status in Mexico. But despite this, it can in fact be used legally, in conjunction with the peso.