By Hannah Lang

(Reuters) – Crypto company Tether, the creator of the world’s largest stablecoin, plans to launch a U.S.-based stablecoin designed for U.S. residents, called USAT, the company’s CEO Paolo Ardoino said on Friday.

Former White House official Bo Hines will be the CEO of the new venture, which aims to be launched by the end of the year, Ardoino said at a press conference in New York.

The move is the latest sign of Tether, which is based in El Salvador, looking to bolster its presence in the U.S., where crypto companies have benefited from President Donald Trump’s pro-crypto stance.

“We want people to know that Tether is here to participate in the U.S. economy in a huge way,” said Hines, who was appointed as a strategic advisor to Tether in August.

“I think our expansion wil

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