Tether has officially launched USAT, a federally regulated, dollar-backed stablecoin designed for the U.S. market, marking its formal entry into the domestic regulatory framework under the GENIUS Act. The token is built on Tether’s Hadron real-world asset (RWA) tokenization platform, enabling scalable, on-chain transparency and compliance.
USAT is issued by Anchorage Digital Bank, the first federally chartered stablecoin issuer in the U.S., operating under the Office of the Comptroller of the Currency (OCC). This gives USAT full compliance with U.S. federal regulations. Cantor Fitzgerald serves as the designated reserve custodian and primary dealer for USAT, ensuring bank-grade transparency and asset management.
Bo Hines, former Executive Director of the White House Crypto Council, has been appointed CEO of Tether USAT, overseeing the U.S. division.
“USDT has proven for more than a decade that digital dollars can deliver trust, transparency, and utility at a global scale," CEO of Tether Paolo Ardoino said. "USAT extends that mission by providing a federally regulated product designed for the American market.”
USAT is now live on major exchanges including Kraken, OKX, Crypto.com, Bybit, and MoonPay, with initial trading volumes reaching $13 million shortly after launch.
Tether’s massive financial resources—reporting over $33.1 billion in U.S. Treasury bill purchases in 2024—position USAT to scale rapidly, with ambitions to reach a $1 trillion market cap within five years.
Tuesday's launch comes after the U.S. passed the GENIUS Act in July 2025, creating a legal framework for regulated stablecoins. While USDT remains a global, offshore stablecoin, USAT is Tether’s strategic response to compete with Circle’s USDC, the dominant U.S.-compliant stablecoin. The launch follows months of preparation, including the appointment of Hines in September 2025 and the selection of Anchorage and Cantor Fitzgerald as key partners.