Tether launches stablecoin USAT, officially entering the US regulatory market

Earlier this year, Circle, the stablecoin giant, completed its IPO in the United States, raising more than 10 With a total investment of US$1 billion, it won the title of "the first stablecoin company listed on the U.S. stock market". Because Circle is headquartered in the United States, its USDC has a natural advantage in U.S. compliance. Currently, USDT continues to dominate the market, accounting for 70%of the total market value of stablecoins. Closely following is convenienceis USDC, accounting for about 25%.  

This year, March , CEO confirmed

Tether  The number of users has exceeded 400 million. Especially in emerging markets and among the unbanked, it is seen as a "digital stand-in" for the US dollar.

With the introduction of the

GENIUS Act,

is seen by the outside world as a turning point in the US government's attitude towards stablecoins. The bill, signed by Trump in July, established a federal framework for stablecoins for the first time, requiring issuers to be fully collateralized with liquid assets such as the U.S. dollar and short-term Treasury bills and to disclose the composition of their reserves on a monthly basis. More importantly, it provides a compliant path for stablecoin service providers, allowing them to enter the U.S. market after meeting compliance requirements.

Ardoino emphasized at the press conference that

USAT 

will be issued by Anchorage Digital, a federally regulated crypto bank that holds the U.S. Office of the Comptroller of the Currency ( leaf="">OCC, the agency that issues national trust bank charters, will ensure that USAT fully complies with the requirements of the GENIUS Act. At the same time, Cantor Fitzgerald will serve as its designated reserve custodian and primary dealer, responsible for managing the Treasury bonds and cash reserves that support USA TODAY.