Tether Launches USAT To Attack U.S. As White House CEO, Boheins Sets Up U.S. Corporation, Complying With Genius Law
Tether is entering the U.S. market in earnest.
Tether announced on the 12th that it will release the dollar-based stablecoin “USAT” by the end of the year that meets all U.S. regulatory requirements.
Tether established “Tether USAT” in North Carolina, USA, to lead the USAT business, and appointed Bo Hines, US strategic advisor, as CEO.
CEO Hines is the first person to serve as secretary general of the White House Virtual Assets Committee under the Trump administration. The headquarters of Dantetether remains in El Salvador.
Tether emphasized that USAT met all the requirements for issuing stablecoins specified by US Genius Act.
The Genius Act restricts only federally authorized corporations to issue stablecoins. As a result, the only digital asset bank in the United States, Anchorage Digital, was structured to become the issuer. The custodian of the reserve is taken over by Canter Fitzgerald.
The two companies are also known to have a stake in Tether USAT. However, a specific method of distributing profits has not yet been determined.
The reason behind Tether’s launch of targeting the U.S. market is that stablecoins are emerging as a means of payment and payment.
According to physical-linked asset (RWA) platform RWA.xyz, the highest remittance in September was Circle’s USDC ($559.1 billion).
Tether’s USDT ranked second ($463.1 billion). Considering the difference between USDT’s market capitalization (about $170.3 billion) and USDC’s market capitalization (about $73.2 billion), USDC is being used more actively for remittance.
This is because USDC complies with all Genius laws, unlike USDT, which is an “out-of-the-board stablecoin.” In fact, since U.S. President Donald Trump signed the Genius Act, USDT has never outpaced USDC in terms of weekly remittances.
