Tether has announced USAT, a new stablecoin that will be regulated in the U.S. under the GENIUS Act. Bo Hines, who headed the Presidential Council of Advisors for Digital Assets, has also been appointed CEO of Tether U.S., the firm’s new US-focused business. USAT would join USDT as another stablecoin offering.

“The simultaneous introduction of both the token and CEO reflects Tether’s commitment to delivering a U.S.-regulated dollar-backed stablecoin backed by transparent reserves, strong governance, and American leadership from day one,” Tether said in a Friday statement. USDT is already a premium stablecoin offering from Tether, with a market cap of over $169B. However, unlike its predecessor, USAT is designed for businesses and institutions operating under a U.S. regulatory framework.

According to Tether, USAT will utilize Tether’s proprietary tokenization platform, Hadron. Crypto bank Anchorage Digital will be the issuer of USAT, while Cantor Fitzgerald will act as the reserve custodian and preferred primary dealer of the stablecoin. USAT will join a surging stablecoin market, which is already up over 30% in market cap this year, with Tether’s USDT heading the charge.

Tether Representatives React to USAT

“For over a decade, Tether – as the creator of the stablecoin industry – has issued USDT, the backbone of the digital economy, and today the U.S dollar stablecoin for hundreds of millions of underserved people living in emerging markets, proving that digital assets can deliver trust, resilience, and freedom on a global scale,” said Paolo Ardoino, CEO of Tether. USAT is our commitment to ensuring that the dollar not only remains dominant in the digital age, but thrives – through products that are more transparent, more resilient, more accessible, and more unstoppable than ever before.”

“I am honored to lead USAT as we prepare for its launch, creating a U.S.-regulated dollar-backed stablecoin designed to strengthen America’s role in the global economy,” said Bo Hines, the new CEO of Tether USAT. “By building USAT with compliance, transparency, and innovation at its core, we are ensuring that the dollar remains the foundation of trust in the digital asset space.”

Also Read: Tether In Talks To Enter Gold Industry

In his new role, Hines will collaborate closely with Tether’s leadership team to shape and execute the company’s U.S. market entry, cultivating constructive relationships with policymakers and industry stakeholders. Additionally, while Tether Investments has already reinvested almost $5 billion in the U.S. ecosystem, Hines’ addition to the Tether team will reinforce its commitment and alignment to this crucial market.