United States Debuts USAT Stablecoin: Introduces U.S.-Regulated Digital Currency, Complete with Designated CEO
In a significant move, Tether, the stablecoin giant, announced the launch of a U.S.-specific stablecoin, USAT, on September 15, 2025. The event was held at a spy museum in midtown Manhattan and was attended by prominent D.C. movers and shakers, including Patrick Witt, chair of the House Financial Services Subcommittee on Digital Assets, Rep. Bryan Steil (R-WI), former GOP Speaker of the House Kevin McCarthy, and numerous prominent industry lobbyists.
Bo Hines, former executive director of the White House's digital assets working group, will serve as USAT's CEO. Hines will be based in Charlotte, North Carolina, where he and his family are based. Anchorage Digital will be a shareholder in the new U.S. company operating USAT, and the stablecoin is expected to launch by the end of the year.
Tether's USAT stablecoin will be designed as an 'America-first' product, catering to the needs of U.S. users. Unlike its flagship stablecoin USDT, USAT will serve as the distribution channel for USDT abroad. Tether's CEO Ardoino has stated that the company intends to make USDT compliant with the new law, making it accessible in the U.S. market.
However, it's worth noting that Tether's USDT token has not yet had its reserves audited by a Big Four firm. The company has been aggressively pushing to establish itself stateside and compete with rival firms pitching themselves as more regulatory-compliant Tether alternatives. Compliance involves obeying stringent U.S. anti-money laundering laws and undergoing intricate audits.
The GENIUS Act, which establishes a legal framework for issuing and trading stablecoins in the United States, has been passed. U.S. Commerce Secretary Howard Lutnick is a major Tether booster, and his Wall Street firm, Cantor Fitzgerald, custodies billions of dollars worth of U.S. Treasuries backing USDT.
Ardoino has also stated that Tether will become the biggest Bitcoin miner in the world by the end of this year. However, no further details about the expansion of Tether's Bitcoin mining capabilities were provided. USAT has faced criticism for its use in criminal activity, but Tether has not released any statements addressing these concerns.
The article was updated after publication to include comments from Ardoino and Hines, as well as further details. Tether has no current plans to offer yield to holders of USAT, unlike rival stablecoin issuer Circle's arrangement with Coinbase. The launch of USAT marks a significant step for Tether as it seeks to establish a stronger presence in the U.S. market.
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