Tether debuts GENIUS Act-compliant USAt stablecoin with Cantor oversight

Tether has launched a new stablecoin, USAt, built to function within the United States under the regulatory framework established by the GENIUS Act. 

After initially announcing the product in 2025, Tether officially rolled out USAt on Tuesday, touting it as a federally regulated, dollar-backed token designed specifically for the US market.

According to the announcement, Anchorage Digital Bank will serve as the official issuer of the ERC-20-based token, which begins trading with an initial circulating supply of $10 million on Ethereum. 

Market access is already underway, with listings confirmed on Bybit, Crypto.com, Kraken, OKX, and MoonPay. 

According to Tether, USAt is now available to US users looking for a dollar-backed asset that operates within the country’s dedicated federal regime.

Tether describes USAt as a "federally regulated, dollar-backed stablecoin" aligned with compliance requirements set forth in the GENIUS Act, the first federal legislation in the US providing a legal foundation for payment stablecoins. 

Bo Hines, who previously served as head of President Donald Trump’s Council of Advisers on Digital Assets, now leads the new entity as CEO of Tether USAt.

To ensure asset security and reserve integrity, Tether has partnered with Cantor Fitzgerald as its designated reserve custodian and preferred primary dealer who will oversee reserve holdings and provide visibility into backing structures designed to meet institutional-grade standards.

USAt will not replace USDT

According to Tether CEO Paolo Ardoino, USAt will complement the broader Tether ecosystem rather than act as a replacement for USDt.

“USAt offers institutions an additional option: a dollar-backed token made in America,” Ardoino added.

Tether USAt CEO Bo Hines added that the new token is intended to support US leadership in digital dollar innovation by prioritising regulatory alignment, responsible governance, and stability. 

“With the launch of USAt, we see a digital dollar that is designed to meet federal regulatory expectations,” Hines said.

Hines added that the company’s focus remains on long-term stability, institutional transparency, and responsible governance, with the goal of positioning the United States as a leader in digital dollar innovation.

While USAt is already active on trading platforms, it has not yet appeared on Tether’s transparency portal, which currently lists four other stablecoins: USDt, the Chinese yuan-pegged CHNt, the Mexican peso-linked MXNt, and Tether Gold (XAUt).

Notably, Tether has recently introduced Scudo, a fractional denomination of Tether Gold, to improve usability and payment adoption of its gold-backed token amid rising bullion demand.

The launch of USAt comes on the heels of a strong financial year for Tether. 

According to CoinGecko’s annual industry report, Tether led all crypto protocols in revenue, generating $5.2 billion and accounting for nearly 42% of total protocol income. 

Stablecoin issuers as a group were responsible for over 65% of the $12.6 billion collected across 168 protocols.