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The issuer of the largest stablecoin USDT by capitalization, Tether, announced the release of a stablecoin USAT pegged to the US dollar, created specifically for the American market.
USAT is available on the Bybit, Crypto.com, Kraken and OKX cryptocurrency exchanges, as well as on the Moonpay payment service. The direct issuer of the stablecoin is Anchorage Digital Bank. It became the first American bank to receive permission to issue such financial instruments.
The main difference between USAT and USDT, which operates around the world, is in a narrow focus, explained Tether CEO Paolo Ardoino. According to him, the token will not be used outside the United States. Tether is going to open an office in the US, Ardoino said. The company expects that large companies will become its main clients.
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USAT was “designed to meet the requirements of the GENIUS stablecoin law,” the company assured. US authorities consider USDT to be inconsistent with the law. The company brought in Beau Hines, a former adviser to the presidential administration on cryptoassets, to the USAT project.
Tether is the leader in the stablecoin market thanks to USDT, whose capitalization exceeds $186 billion. Tether’s total assets reach $187 billion, and profits for 2025 exceeded $15 billion. The capitalization of the main competitor admitted to the American market for the USDC stablecoin company Circle is about $72 billion.
Tether was planning to launch an American stablecoin in 2025. The company expected to increase the number of USAT users to 100 million people by December.
