Tether Launches USAT Stablecoin, Appoints Bo Hines CEO

Tether, the issuer of the world's largest stablecoin USDT, is expanding into the U.S. market with the launch of a new stablecoin called USAT, designed to comply with the recently passed GENIUS Act. Bo Hines, former Executive Director of the White House Crypto Council and advisor to President Donald Trump, has been appointed CEO of Tether's U.S. operations and will lead the new venture headquartered in Charlotte, North Carolina. USAT will be backed by dollar-denominated reserves and issued through Anchorage Digital, with Cantor Fitzgerald serving as reserve custodian and primary dealer. This move reflects Tether’s strategy to meet U.S. regulatory requirements while maintaining the dollar’s dominance in the digital asset space, contrasting USAT’s U.S. focus with USDT’s global reach. Tether’s CEO Paolo Ardoino emphasized USAT’s role in building trust and accessibility in the digital economy, while Hines highlighted the goal of enabling U.S. businesses to participate in the emerging digital economy under a transparent and compliant framework. The launch is expected by the end of 2025, marking a significant step for Tether to solidify its position under U.S. financial regulations.