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Tether unveils USAT, a US stablecoin, and names Bo Hines to lead its US business
Tether unveiled USAT, a planned US-regulated dollar-backed stablecoin built to comply with the GENIUS Act framework. Bo Hines, former White House crypto council executive director, was named CEO of Tether USA. Anchorage Digital Bank would issue USAT, with Cantor Fitzgerald serving as reserve custodian, keeping it separate from offshore USDT.
- USAT is designed to comply with the GENIUS Act—the first US federal framework for payment stablecoins.
- Anchorage Digital Bank, the first federally regulated crypto bank, serves as issuer; Cantor Fitzgerald manages reserves.
- Announcement date was Sept 12; launch timeline was not specified at that time (later launched Jan 27, 2026).