USDT Issuer Tether To Launch US-Based Stablecoin USAT

The USDT issuer Tether has announced the launch of its much-awaited U.S.-based stablecoin. The Tether USAT stablecoin will comply with the GENIUS Act, while former White House crypto adviser Bo Hines will serve as the CEO.

Tether USAT To Launch In The U.S. As Hines Takes Up CEO Role

In a press release, the USDT issuer unveiled its U.S.-regulated dollar-backed stablecoin, USAT, and also announced the appointment of Bo Hines as the future CEO once the stablecoin launches. Tether stated that this move reflects its commitment to delivering a “U.S.-regulated dollar-backed stablecoin backed by transparent reserves, strong governance, and American leadership from day one.

The Tether USAT stablecoin will comply with the GENIUS Act, which came into force in July earlier this year. The stablecoin issuer again reiterated that this marks a major step toward aligning digital asset innovation with the country’s established leadership in financial regulation.

Hines’s emergence as the USAT CEO follows his earlier appointment as an adviser to lead Tether’s U.S. expansion. He was on the White House Digital Asset Working Group that worked on the crypto policy report.

As such, Hines is expected to bring his expertise from working on the committee and his knowledge of the U.S. market. In line with the GENIUS Act, the Tether USAT stablecoin will hold reserves such as the U.S. dollar and short-term treasury bills.

Boluwatife Adeyemi

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