Tether's Approach with CBO: Leveraging Technology to Compete with Major Financial Institutions

Tether, the company behind the world’s most popular stablecoin, has named Benjamin Habbel as its new Chief Business Officer (CBO), signaling a significant move as the firm broadens its reach into global technology and financial infrastructure. Habbel, who was previously the CEO of Limestone Capital—a private equity company managing $1 billion in assets—offers over ten years of leadership across technology, finance, and venture capital. His professional background includes time at Google, where he played a role in expanding Android and Google Maps, as well as founding Voyat Inc., an e-commerce optimization startup. At

, Habbel will be responsible for driving organizational growth, managing finances, overseeing investments, and expanding the company’s portfolio, with a particular emphasis on advancing initiatives in artificial intelligence, mining, cloud services, and digital assets.

This leadership change fits with Tether’s broader ambition to become a frontrunner in developing robust infrastructure for the digital economy. Paolo Ardoino, Tether’s CEO, highlighted that the company is evolving beyond its stablecoin roots to become a “technology and financial leader” set to challenge traditional institutions. Habbel will also work closely with Tether’s portfolio companies, which operate in fields like neurotechnology, real estate, and energy. The portfolio now exceeds $10 billion in investments, with a focus on fostering innovation and long-term value.

Habbel’s track record in scaling fast-growing businesses is expected to strengthen Tether’s expansion in emerging markets. The firm’s USD₮ stablecoin, which adds around 30 million new wallets each quarter, continues to be a vital resource for financial access in regions with unstable currencies. Ardoino pointed out that Tether’s infrastructure enables “decentralized, resilient, and stable” systems, with a strong focus on using AI to decentralize data management. The CBO will lead the development of Tether’s proprietary AI platform, which aims to support peer-to-peer inference and data privacy, a project currently involving 60 developers and $10 billion in self-funded venture capital.

This appointment also highlights Tether’s renewed focus on transparency and regulatory cooperation. Recent actions, such as hiring a CFO to pursue a comprehensive financial audit and launching a U.S.-centric stablecoin (USAT), demonstrate the company’s commitment to aligning with international regulatory standards. Habbel’s arrival comes after Tether’s Q1 2025 attestation report, which revealed $120 billion in U.S. Treasury holdings and over $1 billion in operating profits from traditional investments. These results underscore Tether’s financial strength and its role in providing dollar-based liquidity worldwide.

Tether has faced ongoing criticism regarding its reserve practices and regulatory adherence, especially following a 2021 CFTC settlement over misleading disclosures. Nevertheless, Ardoino and Habbel’s leadership aims to reshape Tether’s image by prioritizing transparency, innovation, and institutional trust. With Habbel’s expertise in private equity and technology, Tether is positioning itself to compete with established financial institutions while maintaining its leadership in the $172 billion stablecoin sector.

Source: [1] Tether Appoints Benjamin Habbel as Chief Business Officer to Drive Next Phase of Global Growth (https://tether.io/news/tether-appoints-benjamin-habbel-as-chief-business-officer-to-drive-next-phase-of-global-growth/)