Tether Launches US-Regulated USAT Stablecoin Issued By Anchorage Digital
Tether has launched its USAT stablecoin, specifically designed for the U.S. market and now trading on exchanges such as Kraken and Crypto.com. USAT is issued by Anchorage Digital, a federally chartered digital asset bank regulated by the U.S. Office of the Comptroller of the Currency (OCC). Recent regulatory changes under the GENIUS Act require stablecoins to be backed primarily by cash and U.S. Treasuries, raising questions about Tether's ability to comply due to its flagship product’s backing with assets like Bitcoin and gold. Tether asserts USAT's structure aligns with GENIUS Act requirements, naming Cantor Fitzgerald as reserve custodian and primary dealer. The move is part of Tether's broader effort to tap into U.S. institutional demand and compete with Circle’s USDC in dollar-pegged stablecoin markets. Anchorage emphasizes USAT’s transparent, compliant operation within the U.S. banking system. Tether also created a dedicated U.S. entity led by Bo Hines and continues to pursue full GENIUS Act compliance for its wider product offerings.
