Tether debuts federally regulated USAT stablecoin via Anchorage Digital

Tether, the issuer of USDT, has launched USAT, a new dollar-backed stablecoin specifically designed for the U.S. domestic market under the federal stablecoin framework established by the GENIUS Act. USAT is issued by Anchorage Digital Bank, bringing its governance under the oversight of the Office of the Comptroller of the Currency (OCC). This move directly challenges Circle's USDC, which has traditionally been preferred by U.S. institutions due to its domestic alignment. Tether aims to leverage its financial strength to rapidly scale USAT, targeting a $1 trillion market cap within five years. To enhance institutional appeal, Cantor Fitzgerald has been appointed as the reserve custodian and primary dealer. Tether CEO Paolo Ardoino stated that USAT extends Tether's mission by offering a federally regulated product for the American market, contrasting with the scrutiny faced by the offshore USDT. The token will be available on major platforms like Kraken, OKX, and Crypto.com at launch.

(Source：CoinDesk)