Tether said USDT will return to the Bitcoin network through Utexo later this month, with private USDT transfers and direct Bitcoin-USDT swaps planned as part of the initial offering. Utexo also intends to introduce Bitcoin-backed lending services at a later stage. Utexo plans to use the RGB protocol for its Bitcoin-based USDT services. The company holds a commercial license to issue USDT on Bitcoin and use Tether's trademark in distribution to exchanges, wallets and payment providers, co-founder Viktor Ihnatiuk said. Utexo has also described compliance restrictions for RGB outputs associated with sanctioned or illegal activity. The deployment would mark USDT's return to Bitcoin after Tether stopped minting the stablecoin through Omni in 2023. A Cointelegraph report dated Oct. 2 said Utexo planned to enable the service later that month.