Tether has introduced USAT, a new stablecoin that complies with US federal regulations and is backed by the US dollar. This initiative aligns with the federal framework established in the GENIUS Act, which aims to create a safe and reliable digital currency environment.
USAT is issued by Anchorage Digital Bank, which holds the distinction of being the first federally regulated institution focusing on stablecoin issuance. This new stablecoin comes at a pivotal time for the cryptocurrency landscape, providing institutions with a trustworthy dollar-backed alternative alongside Tether's existing offering, USDT.
The Tether team emphasizes that USAT not only seeks to enhance the options available to American users but also underscores a commitment to transparency and reliability in the rapidly evolving digital economy. Tether's leadership believes that USAT builds on the hard-earned credibility of USDT, which has served as a digital dollar for over ten years, providing necessary trust and usability at a global level.
With features like scalable infrastructure and institutional-grade compliance, USAT positions itself as an attractive asset for users who prioritize regulatory adherence. Reserves for USAT will be overseen by Cantor Fitzgerald, ensuring strict compliance and security for users.
Currently, USAT can be traded on popular exchanges including Bybit, Crypto.com, Kraken, OKX, and MoonPay. This accessibility is crucial for driving adoption among American users.
The introduction of USAT highlights a forward-thinking approach to the integration of cryptocurrency into mainstream finance, allowing for regulated, utility-driven solutions that ensure stability. Tether aims to keep the United States at the forefront of innovations in dollar-backed digital currencies through responsible governance and a strong focus on transparency.
USAT ultimately represents a significant step towards a regulated digital currency that can enhance commerce and finance in the United States.