Tether Launches USAT, a U.S. Dollar-Backed Stablecoin
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 2h ago- Launch of USAT: Tether has officially launched USAT, the first U.S. dollar-backed stablecoin designed under the GENIUS Act, marking its first compliant entry into the U.S. market and expected to enhance its position within the U.S. financial system.
- Regulatory Compliance: USAT is issued by federally chartered Anchorage Digital Bank, ensuring regulatory backing for the stablecoin, while Cantor Fitzgerald acts as the reserve custodian, further bolstering its institutional credibility.
- Market Acceptance: USAT is already live on the Ethereum network with a circulating supply exceeding 10 million tokens, and major crypto platforms like Bybit, Crypto.com, and OKX have confirmed support, indicating positive market reception.
- Strategic Positioning: Tether CEO Paolo Ardoino stated that USAT is designed to serve institutions within the U.S. financial system, emphasizing stability, transparency, and responsible governance, thereby supporting U.S. leadership in digital dollar innovation.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
