Tether Announces USAT Stablecoin for US Market with Bo Hines as CEO

Tether is introducing a new stablecoin, "USAT," designed to comply with U.S. regulatory standards. Bo Hines, former Executive Director of the White House Crypto Council, will lead the project as CEO of Tether USAT.

USAT aims to strengthen America's role in the global economy and will be fully backed by the US dollar.
The stablecoin will utilize Tether's Hadron real-world-assets tokenization platform.
Anchorage Digital bank will issue USAT, with Cantor Fitzgerald as the designated reserve custodian and primary dealer.

USDT Market Impact

USDT currently has nearly 500 million users and a market cap of around $169.5 billion.
It remains the largest stablecoin by market cap, with Circle as its closest competitor at $72.3 billion.

The official USAT account on X.com was established in 2023, but no specific launch date or geo-restrictions for USAT have been announced yet.