This year's profit is expected to reach $15 billion, with a profit margin as high as 99%. The number of users has exceeded 500 million, and the valuation is $500 billion! "Stablecoin leader" Tether is enjoying great success.

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Stablecoin giant Tether Holdings Ltd. is attracting global capital with its astonishing profitability and market dominance. The world’s largest stablecoin issuer, USDT, is expected to see profits approach $15 billion this year, and is currently in talks for a round of funding that could give it a valuation as high as $500 billion, potentially making it one of the most valuable private companies in the world.

Tether CEO Paolo Ardoino revealed this nearly $15 billion annual profit projection during an interview at the Plan B forum in Lugano, Switzerland. Behind this number is its staggering 99% profit margin and substantial returns on reserve assets driven by the high interest rate environment.

According to Wallstreetcn.com, the company recently stated that its number of “real users” has surpassed 500 million, which is about 6.25% of the world’s population.

Meanwhile, Tether is in the midst of a funding round that could reshape its market position. According to media reports last month, the company is negotiating to raise up to $20 billion for about 3% of its shares. If the deal is completed, its valuation would reach around $500 billion, surpassing ByteDance and equaling OpenAI, positioning Tether among the world’s top unicorn companies. This series of events highlights the immense commercial value held by stablecoin issuers as de facto “shadow banks” in a high interest rate era.

Profit Margin as High as 99%, Tether’s Profitability “Rare in the World”

Tether’s astonishing profitability mainly stems from its unique business model. As a stablecoin, USDT aims to maintain a 1:1 peg with the U.S. dollar, backed by a massive reserve portfolio mainly consisting of cash and short-term U.S. treasuries. In a high interest rate environment, these reserves generate massive interest income. Paolo Ardoino commented in the interview:

“Our profits this year will once again be close to $15 billion. This is extremely rare.”

Last year, benefiting from high interest rates, Tether achieved about $13 billion in profit. Ardoino added:

“We have a 99% profit margin; no other company in the world can do this.”

According to DefiLlama data, about $183 billion worth of USDT is currently in circulation, accounting for about 60% of the entire stablecoin market. However, it is worth noting that Tether has not disclosed whether its cited financial data adheres to the reporting standards required for publicly listed companies.

Massive Fundraising Underway, $500 Billion Valuation Rivals OpenAI

Despite its strong profitability, Tether is not lacking outside investor interest. Paolo Ardoino admits, the company has received so many indications of interest from companies that “we have to draw a line at a valuation which we think is very cheap.”

According to earlier media reports, heavyweight investors such as SoftBank Group and Ark Investment Management are among those involved in the fundraising discussions. Endorsements from these investment giants could help Tether drive broader mainstream applications in the technology and financial sectors.

When asked what kind of investors he would like to bring in, Ardoino said:

“There are many funds and tech funds, their portfolios include many companies that can use some of our technology and other products. It is about synergy and creating greater impact.”

Over 500 Million Users, Tether’s Map Continues to Expand

In addition to impressive financial figures, Tether’s user base and business footprint are also rapidly expanding. According to Wallstreetcn.com, the company recently announced that its “real user” number has surpassed 500 million, equivalent to about 6.25% of the global population, highlighting its broad worldwide influence.

On the business expansion front, Tether has set plans to re-enter the U.S. market later this year through a new stablecoin project called USAT, aiming to capitalize on President Trump’s pro-crypto policy environment.

In addition, the company’s investment portfolio is also rapidly diversifying, including a high-profile investment in Italian football club Juventus. As of this month, Tether holds 11.5% of the club’s shares and has submitted two board candidates for the club’s shareholders’ meeting next month. Paolo Ardoino said:

“We want to give fans representation on the board for the first time.”

However, in June, Tether expressed dissatisfaction over the lack of communication between the club and its majority shareholder, Italy’s Agnelli family’s investment company Exor NV. Although Ardoino personally expressed interest in acquiring the club, he made it clear there are no current plans to do so.

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