Tether Launches USAT Stablecoin Amid Regulatory Advances and Market Competition

Tether, the issuer behind the widely-used USDT stablecoin, announced on September 12, 2025, the launch of its new U.S.-based stablecoin named USAT. This strategic move comes in the wake of increased regulatory clarity after the passage of the Genius Act in July 2025, which sets regulations around stablecoin issuance.

Bo Hines has been appointed as the CEO leading Tether's U.S. expansion efforts. To ensure compliance and security, Tether partners with Anchorage Digital as a custodian alongside their longtime partner Cantor Fitzgerald.

USAT's headquarters will be based in Charlotte, North Carolina, reflecting a U.S.-centered approach. The stablecoin is designed primarily for practical use cases including remittances, global payments, and online checkouts, aiming to bolster Tether's presence in the growing U.S. market.

This launch reflects Tether’s response to increasing U.S. regulatory scrutiny as well as competition from larger players like Circle's USDC, which currently holds a market cap of approximately $72 billion, compared to USDT’s nearly $170 billion.

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Tether’s USAT stablecoin initiative underscores how regulatory frameworks and market competition are shaping the future of stablecoins in the United States.