USDT issuer has announced a new appointment.

The appointee will serve two key roles.

The move underscores Tether’s commitment to driving crypto adoption.

USDT issuer Tether announced Monday that Philip Gradwell has been appointed as its Head of Economics.

Gradwell is a former Chief Economist at blockchain analytics firm Chainalysis, where he worked for six years and eight months before leaving in July this year, his LinkedIn page shows. The crypto industry veteran is renowned for consistently pushing the frontier of measuring digital asset activity to help the industry mature as a real economy.

Philip Gradwell’s Role at Tether

In a press release on July 15, the stablecoin issuer said Philip Gradwell’s role will include “quantifying” the Tether USDT economy and “communicating” how it is used to regulators and stakeholders globally. Sponsored

Gradwell welcomed the appointment, stating that “there is a true economy to analyze” in Tether and the data and knowledge to do so.

“Tether is the digital asset with the greatest adoption, which puts it at the center of the future of money, and I’m excited to use the power of data to build a common understanding of Tether’s applications,” Gradwell said.

Commenting on the appointment, Tether CEO Paolo Ardoino lauded Gradwell’s experience and proven track record in the crypto industry, noting that he was the ideal person to lead the company’s economic analysis efforts.

The CEO emphasized Gradwell’s role in supporting global access to the U.S. dollar via USDT. Sponsored

“This not only enhances the liquidity and stability of the US financial system but also reinforces the role of the dollar in global finance thereby supporting dollar hegemony. Philip’s expertise will enable Tether to bring even further understanding to our indispensable role in supporting the dollar,” Ardoino stated.

CoinMarketCap data shows that USDT is the world’s leading dollar-pegged stablecoin by market value, holding $112.5 billion as of press time.

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