Tether Launches ‘Made in America’ Stablecoin to Comply With GENIUS Act

Tether has introduced USA€, a new dollar-backed stablecoin specifically for the US market, issued by the federally chartered Anchorage Digital Bank, N.A. This launch is designed to ensure compliance with the requirements of the new federal stablecoin law, the GENIUS Act. USA€ is structured to meet the Act's mandates for payment stablecoins, including bank issuance, full reserve backing, and regulatory supervision. Cantor Fitzgerald will serve as the reserve custodian and primary dealer. This move addresses regulatory pressure that limited the distribution of Tether's flagship token, USDT, within the US system, positioning USA€ to compete directly with Circle's USDC among US institutions while allowing USDT to maintain its global role.

(Source：BeInCrypto)