Key Notes

Former White House Crypto Council Executive Director Bo Hines will lead the new US-regulated stablecoin initiative.

USAT will be fully dollar-backed and issued through Anchorage Digital with Cantor Fitzgerald as reserve custodian.

Tether's existing USDT dominates the market with nearly 500 million users and $169.5 billion market capitalization.

Tether is launching a new stablecoin called “USAT” that will be “purpose-built to serve the U.S. market and support American regulatory standards” under the leadership of Bo Hines, the former Executive Director of the White House Crypto Council.

Hines joined the firm as an advisor in mid-August. He’ll now lead the USAT project as CEO of Tether USAT, according to a Sept. 12 press release . Hines, in a public statement, said the com

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