NextFin news, Crypto company Tether unveiled its new U.S.-regulated stablecoin, USAT, on Friday at a press conference held in New York City. The launch marks Tether's strategic entry into the American stablecoin market, targeting U.S. businesses and residents under the recently enacted GENIUS Act, a federal law regulating stablecoins.
Bo Hines, former executive director of the White House Presidential Council of Advisers for Digital Assets under President Donald Trump, was appointed as the CEO of Tether USAT. Hines, who joined Tether as a strategic advisor in August 2025, will lead the company's U.S. expansion efforts. At the announcement, Hines stated, "We want people to know that Tether is here to participate in the U.S. economy in a huge way," and predicted "exorbitant" growth over the next 12 to 24 months.
USAT is designed to comply fully with the GENIUS Act, which mandates 100% reserve backing with U.S. dollars or short-term Treasury bonds. This regulatory framework aims to ensure transparency, strong governance, and consumer protection in the stablecoin market. Tether's existing stablecoin, USDT, which operates globally and is already available on U.S. crypto exchanges, will also comply with the GENIUS Act but remains a foreign stablecoin issuer.
The issuance of USAT will be managed by Anchorage Digital Bank, the first federally chartered crypto bank in the U.S., which holds a national trust bank charter from the Office of the Comptroller of the Currency. Anchorage Digital will also be a shareholder in Tether USAT. Cantor Fitzgerald, a financial services firm with close ties to the Trump administration, will serve as the reserves manager for USAT, overseeing the assets backing the stablecoin. Cantor Fitzgerald currently manages most of the reserves backing Tether's USDT stablecoin.
CEO Paolo Ardoino highlighted the significance of the launch, saying, "Today, with the introduction of USAT and Bo Hines's appointment as future CEO of Tether USAT, we are taking the next natural step, bringing that same strength to the U.S. under a world-leading U.S.-regulatory framework." He noted that Tether's USDT remains the world's largest stablecoin with a market capitalization exceeding $169 billion.
Bo Hines, 29, is a Yale University graduate with a background in political science and law, and previously served as the executive director of the White House's crypto advisory council from January to August 2025. His appointment reflects Tether's focus on regulatory compliance and American leadership in the digital asset space.
The USAT stablecoin is expected to launch by the end of 2025, providing a regulated, dollar-backed digital currency option tailored for the U.S. market. This initiative represents Tether's effort to strengthen its presence in the United States amid evolving regulatory landscapes and increased institutional adoption of digital assets.
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