Tether Launches USAT Stablecoin with Former White House Advisor as CEO
According to Tether, its new USAT stablecoin will target the U.S. market with instant settlement and cost efficiency, led by Bo Hines and supported by Cantor Fitzgerald partnerships.
Tether announced its return to the U.S. market with the launch of its USAT stablecoin, naming Bo Hines as CEO. According to the company’s official statement, USAT is designed to provide instant settlements at lower costs, supported by Cantor Fitzgerald and other partners. CEO Paolo Ardoino emphasized Tether’s profitability of $13.7 billion in 2024 and proprietary distribution network as reasons the company does not plan to go public, distinguishing its strategy from competitor Circle. Tether has invested $5 billion in the U.S., including $775 million in Rumble Inc., highlighting its growing presence in American markets.
- Stablecoin: A type of cryptocurrency pegged to a stable reserve asset, such as a fiat currency, to minimize price volatility.
- USAT: A U.S.-regulated, dollar-backed stablecoin launched by Tether, designed to operate in compliance with American regulatory frameworks.