Tether Launches USAT Stablecoin for U.S. Market Under GENIUS Act

Tether has officially launched USAT, a U.S. dollar-pegged stablecoin built specifically to comply with America’s new federal regulations on digital assets.

Key Takeaways

• Tether debuted USAT, a dollar-backed stablecoin issued by federally regulated Anchorage Digital Bank under the GENIUS Act.
• USAT is designed for the U.S. market, addressing domestic regulatory requirements that offshore stablecoins like USDT cannot meet.
• Cantor Fitzgerald serves as USAT’s reserve custodian and primary dealer, ensuring asset transparency and compliance.
• USAT is available now on multiple U.S.-regulated crypto platforms including Kraken, Bybit, OKX, Crypto.com and MoonPay.

What Happened?

Tether has rolled out USAT, a new stablecoin issued through Anchorage Digital Bank, a nationally chartered U.S. institution. Unlike Tether’s flagship USDt, which is issued offshore and faces limits under U.S. regulations, USAT is tailored to fully comply with the GENIUS Act, the recently enacted law creating America’s first federal framework for payment stablecoins.

USAT Built to Meet GENIUS Act Requirements

Tether described USAT as a federally regulated, dollar-backed stablecoin specifically designed for use within the U.S. financial system. The GENIUS Act, passed in July 2025, introduced stringent guidelines for issuing payment stablecoins, including full reserve backing, supervision by U.S. regulators, and issuance through banks or qualified financial entities.

Anchorage Digital Bank, which holds a national bank charter and operates under the oversight of the Office of the Comptroller of the Currency, is the official issuer of USAT. This structure represents a significant shift from Tether’s previous international model, aligning the product with evolving U.S. regulatory expectations.

Cantor Fitzgerald, a global financial services firm, is acting as USAT’s reserve custodian and preferred primary dealer, providing custody of backing assets and transparency from launch.

A Domestic Alternative to USDt

Tether’s international stablecoin USDt remains dominant globally, but its offshore status limits its availability in the U.S. under the GENIUS Act. USAT fills that regulatory gap, giving U.S. institutions a compliant, dollar-pegged digital asset.

Paolo Ardoino, CEO of Tether said:

Bo Hines, the former executive director of the White House Crypto Council, was named CEO of Tether USAT in late 2025. Hines emphasized the stablecoin’s focus on stability, transparency, and responsible governance. “USAT ensures the United States remains competitive in the evolution of digital money,” he said.

Market Rollout and Platform Support

At launch, USAT has a $10 million initial supply issued as an ERC-20 token on Ethereum. It is already listed on popular platforms including Bybit, Crypto.com, Kraken, OKX and MoonPay, offering accessibility for U.S.-based users. More U.S.-regulated exchanges and financial partners are expected to follow.

Tether also noted that while USDT will continue to serve international markets, USAT is engineered specifically for domestic use and institutional-grade compliance. The company remains one of the largest private holders of U.S. Treasuries worldwide, supporting both tokens with substantial reserves.

CoinLaw’s Takeaway

In my experience, the launch of USAT marks a real turning point for stablecoins in the United States. This is not just about regulatory compliance. It’s about legitimacy. Tether has been under scrutiny for years, and this move shows they’re willing to play by U.S. rules. I found the use of Anchorage Digital Bank and Cantor Fitzgerald especially reassuring. It signals that Tether is working with the kind of institutional partners that regulators trust. USAT is not a copy of USDT. It’s a new kind of stablecoin built for a more mature, regulated future. For users in the U.S., this could be a game-changer.

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