Tether Launches USAT Stablecoin Under U.S. GENIUS Act Framework

Tether has officially launched USAT, a new U.S. dollar–backed stablecoin designed to operate under the GENIUS Act, the federal stablecoin framework signed into law last year by U.S. President Donald Trump.

The launch marks Tether’s first regulated stablecoin tailored specifically for the U.S. market. According to a press release, USAT is issued by Anchorage Digital Bank, a federally chartered crypto bank. Cantor Fitzgerald will act as the reserve custodian and preferred primary dealer, reinforcing the stablecoin’s institutional and regulatory backing.

Blockchain data from Etherscan shows that USAT is already live on Ethereum, with a circulating supply slightly above 10 million tokens. Tether has not yet disclosed plans for deployment on other networks.

Tether first hinted at the USAT launch in September last year, alongside the announcement that Bo Hines, a former White House crypto adviser, would serve as CEO. The stablecoin’s debut is significant as it positions Tether within the U.S. regulatory landscape, following years of global dominance with USDT.

GENIUS Act Rules Shape USAT Launch

The GENIUS Act requires stablecoin issuers to maintain 1:1 dollar backing, conduct monthly audits, and hold reserves in cash or short-term U.S. Treasury bills. The law also prohibits stablecoin issuers from offering yield to users, a restriction that banks are pushing to extend to crypto firms through the proposed CLARITY Act.

Tether confirmed that USAT will be listed on major crypto platforms during its initial rollout, including Bybit, Crypto.com, OKX, and Kraken, as well as the fintech platform MoonPay. Bybit, Crypto.com, and OKX have already confirmed listings, while Bitfinex plans to support the stablecoin soon.

Despite the launch of USAT, Tether emphasized that USDT will continue operating globally, while gradually moving toward GENIUS Act compliance. CEO Paolo Ardoino described USAT as a “dollar-backed token made in America,” designed to serve institutions within the U.S. financial system.

Bo Hines added that USAT focuses on stability, transparency, and responsible governance, supporting U.S. leadership in digital dollar innovation.

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