On Tuesday, Tether launched USAT, the world’s largest stablecoin issuer’s entry into the US market after years of regulatory uncertainty. USAT is now available to US users through major exchanges and is a federally regulated, dollar-backed stablecoin designed to operate under the Genius Act.
The stablecoin is issued by Anchorage Digital Bank under the Genius Act framework, and USAT is now available to US users seeking a dollar-backed token built to operate within the US’s dedicated federal regime, according to Tether. The move directly challenges Circle, which has long dominated the US stablecoin market.
Circle CEO Jeremy Allaire said that stablecoin adoption could see 40% annual growth, underscoring the implications of USAT’s entry. The launch follows Congress’s passage of the Genius Act last summer, establishing a federal framework for stablecoins. Adoption for stablecoins by traditional institutions is also coming. At Davos, Circle’s Allaire reiterated the 40% growth projection, while US Treasury Secretary Scott Bessent has predicted the sector could grow tenfold by 2030.
Leave a Reply