Tether is looking to claim the valuation of $500 billion in order to join the elite club of world’s wealthiest private entities. The stablecoin giant is reportedly planning to raise $20 billion to achieve its target.
Tether is the issuer of the USDT token — which, with its current market cap of $172.80 billion, is touted as the largest stablecoin in the world.
The El Salvador-headquartered company is now looking to offer three percent stake for $15 billion to $20 billion, Bloomberg reported.
On Wednesday, September 24 Tether CEO Paolo Ardonio shared that the company is evaluating a raise from a selected group of high-profile investors.
The aim is “to maximize the scale of the Company’s strategy across all existing and new business lines (stablecoins, distribution ubiquity, AI, commodity trading, energy, communications, media) by several orders of magnitude,” Ardonio posted on X, without divulging elaborate details on the ongoing fundraising assessment.
In the second quarter of 2025 marking a period from April to June, Tether reported $4.9 billion in net profits. The comments under Ardonio’s post questioned Tether’s roadmap with some asking why doesn’t the company reinvest into itself and achieve its goals without investors and the others calling it an “obscene cash machine”.
More details on the potential investors that Tether is considering remains awaited for now. New York-based fintech firm and investment bank Cantor Fitzgerald has reportedly been appointed as the acting lead adviser for these considerations.
Tether, in August, appointed former White House crypto policy executive Bo Hines as its strategic advisor to chalk out its U.S. expansion plans. Last week, the company announced a new stablecoin called USAT, designed for the U.S. market.