Truly precious insight here.
@tether is building a physical distribution network worthy of a blue chip global retail franchise.
Orthogonal strategy to other stablecoin initiatives, like
@global_dollar, which activates an enterprise alliance to distribute top-down.
The Venn diagram of global scalable stablecoins is therefore marginally overlapping in the middle, with a single-digit trillion dollar monetary supply waiting to be displaced.
"wen trillion?"
During PlanB Forum El Salvador, I was asked this:
Journalist: are you worried about USDt competitors?
Me: not many realize that Tether has been building for the last 10 years one of the widest digital and physical distribution networks in the history of humanity.
While some competitors raise capital from investors and grow their market cap paying incentives to banks to keep their stablecoins in the balancesheet, Tether has 100s thousands of partners, building kiosks across all developing countries, digital platforms with tens of millions of users and mind-blowing technology.
The scale of our network is just different.
This is the reason why USDt has been so successful in empowering 400 million users in emerging markets giving them access to the global financial system through the stablecoin USDt. There are still billions of people left out from basic financial services, good people that are simply too poor of being of interest of the banks. We'll continue in our mission to help them too.
And all this while helping the US economy, buying back hundreds of billions in US Treasuries and strengthening the US dollar as most used fiat currency in the world.
So no, I'm not worried.