Tether Holdings announced the launch of a US-focused stablecoin called USAT, signaling its return to the United States market after halting direct purchases by US customers in 2018. The token is issued by Anchorage Digital Bank, with Cantor Fitzgerald designated as reserve custodian and primary dealer for the new coin.
Several crypto exchanges have already listed USAT for trading, including Bybit, Crypto.com, and OKX. Tether describes USAT as a complement to its flagship USDT, offering a US-regulated option for the domestic market.
Stablecoins aim to maintain a steady value by pegging to the US dollar through reserves of cash or other assets, and the sector has grown to more than US$308 billion in circulation, with USDT accounting for roughly 60% of that total. The Genius Act, proposed by US lawmakers, tightens reserve requirements and storage, requiring large-scale issuances to be backed by a nationally chartered bank. Tether has previously faced penalties over reserve representations and has engaged a Big Four firm for an ongoing reserve audit.
Paolo Ardoino, Tether’s chief executive, said USAT extends the trust and utility of digital dollars by delivering a US-regulated product for the American market. He emphasized that the token is intended to operate within the evolving US regulatory framework for stablecoins.
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