Tether, the issuer of the world’s largest stablecoin USDT, announced plans to launch a new U.S.-based stablecoin called USAT, according to Reuters.
The move represents the crypto company’s most direct attempt yet to expand within the United States, where pro-crypto policies under President Donald Trump have opened the door for stablecoin issuers.
Tether CEO Paolo Ardoino said at a press conference in New York on Friday that the new coin, USAT, is intended for U.S. residents and is expected to launch by the end of 2025, according to the report. Bo Hines, a former White House official and former executive director of the President’s Council of Advisers on Digital Assets, will serve as CEO of the new venture.
USAT will be issued by Anchorage Digital Bank, which has a national trust bank charter from the U.S. Office of the Comptroller of the Currency. Anchorage will also be one of the shareholders in the new venture. Cantor Fitzgerald will act as the custodian and preferred primary dealer for USAT. The venture will be headquartered in Charlotte, North Carolina.
The new coin will comply with the GENIUS Act, a law signed by President Trump in July 2025 to create a regulatory framework for stablecoins. The law requires that stablecoins be backed by liquid assets such as U.S. dollars or short-term Treasuries and mandates monthly public disclosures of reserve compositions.
Tether says USDT will continue to operate as a foreign stablecoin issuer, while USAT will be fully compliant with the new U.S. law.
Last year, The Wall Street Journal reported that U.S. authorities were probing Tether for potential sanctions or anti-money laundering violations. Ardoino, however, said he had seen no indication that the company is under investigation, Reuters reported.
Read more at Reuters