Tether Launches USAT, a New Compliant Stablecoin for Institutions
- Tether has launched a new stablecoin named USAT, compliant with the GENIUS Act.
- Anchorage Digital Bank will issue USAT, ensuring adherence to U.S. regulatory standards.
- USAT is designed as an American-made, dollar-backed token specifically for institutions.
- The stablecoin will initially be available on major platforms including Bybit, Crypto.com, and Kraken.
- Cantor Fitzgerald will manage custody and ensure reserves are backed by cash and short-term Treasury bonds.
The introduction of USAT aims to provide a federally regulated product that meets the needs of American institutions amid increasing competition in the market.
With its launch on platforms like Bybit and Kraken, USAT represents Tether’s strategy to maintain its presence in the U.S. market against competitors like Circle.(Source)
