Tether is renewing its effort to make USDT usable through Bitcoin and the Lightning Network, more than a year after announcing the plan. CEO Paolo Ardoino said the stablecoin was "coming home" to the network where it first launched through the Omni Layer in 2014. Most USDT activity later moved to Ethereum and Tron because of faster, cheaper transfers, and Tether ended direct support for the Omni version in 2023. Utexo, which raised $7.5 million in March with Tether’s support, is developing infrastructure for businesses, wallets, exchanges and custodians to transfer USDT over Bitcoin. Its system uses RGB, which allows assets to move with Bitcoin without recording every piece of information directly on the public blockchain. RGB is separate from Taproot Assets, the system developed by Lightning Labs, although both are intended to improve Bitcoin-based asset transfers. Utexo co-founder Viktor Ihnatiuk said he met Morgan Stanley representatives in Washington and that more than 450 businesses are in the company’s pipeline, but Morgan Stanley has not confirmed an association with Utexo or Tether. No timetable has been provided for either product. Utexo previously added its RGB Lightning module to Tether’s Wallet Development Kit and named UniSat as a launch partner, although neither company disclosed a release date. Tether’s USDT has a market value of about $184 billion, making it the largest stablecoin. The initiative follows Tether’s broader preference for existing networks rather than creating its own blockchain, while regulatory constraints under the European Union’s MiCA framework have limited USDT’s reach in Europe.