Tether has introduced USAT, its new US-regulated dollar-backed stablecoin. The company also announced the appointment of Bo Hines as CEO of Tether USAT. The new token aims to offer businesses and institutions a digital alternative to cash with transparent reserves, US-based management and strict compliance standards, according to the statement. Tether, the world's largest stablecoin provider, currently controls USDT, the most widely used token with a market capitalization exceeding $169 billion. Used as a digital dollar in developing countries and communities with limited access to banking, USDT has reached approximately 500 million users. The company also garnered attention for exceeding $13 billion in profits in 2024. The new stablecoin, USAT, will be compliant with the recently enacted GENIUS Act. The token will be issued by Anchorage Digital, with Cantor Fitzgerald handling reserve custody. It will also utilize Tether's tokenization platform, Hadron. Tether CEO Paolo Ardoino made the following statement in the announcement: “For over a decade, USDT has been the backbone of the digital economy. With USAT, we are bringing that same power to a US-led regulated framework. This new step will ensure the dollar not only survives in the digital age, but grows even stronger.” Related News: Whales Are Hoarding Bitcoin, Small Investors Are Selling: What Does This Mean? Bo Hines, who is preparing to take over as CEO, stands out with his experience in regulatory affairs, business, and innovation. Hines, who previously served as Executive Director of the White House Crypto Council, commented on USAT: “By building a transparent and reliable dollar-backed stablecoin that complies with US regulations, we will reinforce the dollar's fundamental role in the digital asset ecosystem.” *This is not investment advice. Continue Reading: Tether Introduces a New Stablecoin – Will It Surpass USDT?
