Tether To Launch US-Regulated USAT Stablecoin, Ex-White House Exec Bo Hines Appointed CEO
Tether is launching USA₮, a U.S.-regulated stablecoin designed to comply with the GENIUS Act, the stablecoin issuer announced in a press release on Friday.
What Happened: The world’s largest stablecoin issuer unveiled USA₮ alongside the appointment of Bo Hines, former executive director of the White House Crypto Council, as CEO of the new U.S. entity.
The regulated stablecoin will leverage Hadron by Tether technology with Anchorage Digital serving as the GENIUS Act-compliant issuer and Cantor Fitzgerald as reserve custodian.
“For over a decade, Tether – as the creator of the stablecoin industry – has issued USD₮ (CRYPTO: USDT), the backbone of the digital economy,” said Paolo Ardoino, Tether CEO.
The company’s flagship USDT token maintains a $169 billion market capitalization with nearly 500 million users globally, particularly serving “the underbanked, unbanked, …
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