- Tether has launched USAT to formally enter the US market, introducing a dollar-backed stablecoin structured to comply with the GENIUS Act and federal banking requirements.
- USAT differs from USDT by design, with issuance through Anchorage Digital Bank and regulated reserve custody, allowing Tether to offer a compliant product to US users.
- The launch reflects a broader shift in perception of stablecoins, as banks and financial institutions increasingly adopt them as core financial infrastructure rather than experimental crypto assets.
Tether has formally entered the US market with the launch of USAT, a dollar-backed stablecoin designed to operate under the country’s new federal stablecoin framework. The company confirmed that the token is now available to US users seeking a regulated digital dollar product tailored specifically for domestic use.
The rollout follows the passage of the GENIUS Act last summer, which established new requirements governing how stablecoins can be issued and backed within the US. These rules have created a clear regulatory pathway that Tether had previously lacked for its flagship USDT token.
USDT, despite being largely backed by US dollar-denominated reserves, is not directly accessible to US customers and currently has a circulating supply of roughly US$187 billion (AU$271.15 billion). By contrast, USAT has been structured to comply with federal standards that limit eligible reserve assets and mandate issuance through a nationally chartered bank.
Anchorage Digital Bank is acting as the issuer of USAT, while Cantor Fitzgerald has been appointed as reserve custodian and preferred primary dealer for the new stablecoin. Both firms already play central roles in US-regulated digital asset infrastructure.
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Leadership and Institutional Backing
Bo Hines, a former White House crypto policy adviser, was appointed chief executive of USAT last September and is overseeing the launch. He said the project prioritises stability, transparency, and governance to support continued US leadership in dollar-based innovation.
The launch comes amid growing global interest in stablecoins, with banks increasingly viewing them as core financial infrastructure rather than experimental crypto products. Industry executives have said adoption across the banking system is accelerating as institutions prepare for broader implementation.
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