Tether has officially launched USAT, its first stablecoin designed specifically for the US market and subject to federal oversight. Announced on January 27th, the launch was implemented under the GENIUS Act, which came into effect in the US in July 2025 and establishes the first federal framework for payment-oriented stablecoins. In this respect, USAT is Tether's first product built directly in compliance with the US regulatory architecture, unlike its globally used USDT.
This time, Anchorage is behind the stablecoin
The company behind the new stablecoin, i.e., its issuer, is Anchorage Digital Bank, known as the first federally licensed crypto bank in the US. Tether emphasizes that issuing USAT through an institution with a national bank license strengthens the element of trust for both institutional investors and regulatory authorities. Bo Hines, formerly the executive director of the White House Crypto Council, has been appointed CEO of the project.
USAT is technically designed as a stablecoin pegged one-to-one to the US dollar and was initially launched on the Ethereum network using the ERC-20 standard. According to CoinMarketCap data, the token entered circulation with a supply of approximately $10 million at launch. This limited initial supply suggests that the product will initially proceed with a controlled and institutional-focused growth strategy.
Tether clearly distinguishes USAT from USDT. While the company states that USDT continues to be used globally and is gradually progressing towards compliance with the GENIUS Act, it emphasizes that USAT was developed from the ground up for the US market. This approach is considered part of Tether's strategy to both continue meeting global stablecoin demand and directly integrate into the new regulations taking shape in the US.
Another notable detail stands out on the reserve management side. Global financial company Cantor Fitzgerald will serve as the official reserve custodian and preferred primary processor of USAT. Thanks to this structure, transparency of reserves and secure asset management are aimed to be provided at institutional standards from day one.
The launch of USAT coincides with a period in which Tether's weight in the global dollar ecosystem is increasing. The company is already the 17th largest holder of US Treasury bonds in the world, surpassing countries such as Germany, South Korea, and Australia. This shows that Tether has become a significant player not only in the crypto markets but also on a macroeconomic scale.
The new stablecoin will initially be accessible through Bybit, Crypto.com, Kraken, OKX, and MoonPay. Thus, both individual users and institutional investors will have the opportunity to access a digital dollar alternative that complies with federal regulations.
Tether CEO Paolo Ardoino stated that USAT offers "an American-made, dollar-backed, and federally compliant token," adding that the legacy of trust and transparency that USDT has provided globally for over a decade is being brought to the US market. Bo Hines stated that USAT's focus is on stability, transparency, and responsible governance, ensuring the US maintains its leadership in digital dollar innovation.
