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- Tether plans USAT launch with Anchorage, Cantor Fitzgerald, Trump’s GENIUS Act shaping compliance and expansion.
- Bo Hines named CEO, project framed as large-scale push while rivals like Circle face pressure.
Tether, issuer of the world’s largest stablecoin USDT, announced plans to launch a U.S.-based digital currency, USAT, aimed for United States residents. The new token is scheduled for release by the end of 2025, according to CEO Paolo Ardoino.
The firm revealed that Anchorage Digital Bank, a federally chartered trust bank,will handle issuance. Stocks in the enterprise will also be held by Anchorage and by anonymous investors. Cantor Fitzgerald will serve as custodian and preferred primary dealer for USAT.
Ardoino said that the move shows a strong response toward domestic rivals. He told reporters,
I think it’s a very exciting moment because we were under severe pressure from competitors that want to create a monopolistic environment in the United States.
🚨NEW: @Tether_to CEO @paoloardoino has just introduced the company’s new domestic stablecoin $USAT, a new initiative set to be led by @BoHines.
— Eleanor Terrett (@EleanorTerrett) September 12, 2025
Bo Hines to Lead Tether’s U.S. Push
Bo Hines, a former White House official, will serve as chief executive of the new venture. He had joined Tether as a strategic advisor in August after leaving his post as executive director of the President’s Council of Advisers on Digital Assets. The new headquarters will be in Charlotte, North Carolina.
Hines described the project as a large-scale effort:
I think our expansion will be exorbitant over the course of the next 12 to 24 months.“
Ardoino added that the company wants U.S. residents to view Tether as a participant in the domestic economy “in a huge way.”
This push comes only three months after Circle, one of Tether’s main competitors, completed an IPO that raised over $1 billion. Circle’s shares have since fallen 5.8%, highlighting the fierce competition in the stablecoin sector.
Stablecoins Gain Legal Clarity Under GENIUS Act
In July, President Donald Trump signed the GENIUS Act, requiring stablecoins to be supported by liquid assets such as the dollar or short-term Treasury notes. The law also demands monthly public reporting of reserves. Ardoino confirmed that Tether’s USDT will continue operating under foreign issuer status but will comply with these requirements.
Tether has become a significant buyer of U.S. government debt. In 2024, the company 2024 purchased more than $33.1 billion of Treasury bills and became the seventh-largest holder. JP Morgan analysts said issuers of stablecoins could become the third-largest buyer of Treasury bills in the near term.
U.S. Treasury Secretary Scott Bessent has previously pushed lawmakers to adopt stablecoin regulations, arguing that it could expand demand for federal debt securities. The GENIUS Act now offers that legal clarity, strengthening the ground for ventures like USAT.
According to Tether executives the company is well positioned to challenge rivals by aligning with regulatory requirements and deepening ties to U.S. financial infrastructure. As Ardoino explained,
We believe that Tether is the best product in the market.
