This article has been republished with permission from Binance News.
Paolo Ardoino, who is set to become the CEO of Tether, has announced that they are soon launching a new platform called the “Tether Real World Ecosystem” (RWE). During an interview with The Block, Mr. Ardoino stated that although the USDT stablecoin remains a key product and the company will continue to focus on its growth, Tether is also headed towards venturing into new fields.
According to Ardoino, the soon-to-be-introduced platform will capitalize on Tether’s experience in financial technology building and concentrate on real world assets (RWAs). RWAs represent investments in tangible assets that have value in the real world, such as real estate or commodities.
On October 13, it was reported that Paolo Ardoino was set to become the CEO of Tether in December. The current CEO, Jean-Louis van der Velde, will transition to a consultant role for Tether while retaining his position as CEO of Bitfinex.