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Author: 1912212.eth, Foresight News
On September 12, Tether announced the launch of the new stablecoin, the USAT, a fully compliant dollar-backed stablecoin designed for the U.S. market.Also announced the appointment of Bo Hines as CEO of the future Tether USAT.
In the cryptocurrency field, Tether’s USDT market capitalization has exceeded US$170 billion and is widely used in transactions, cross-border payments and DeFi applications.Tether made more than $13 billion in full-year 2024, and his total profit in the first half of 2025 was approximately $5.7 billion, of which Q2 net profit hit a record $4.9 billion in a single quarter, mainly from U.S. Treasury yields and value-added reserves.
According to defiLlama data, as of September 14, the total market value of stablecoins was approximately US$289.234 billion, of which USDT accounted for 58.96%, occupying a dominant position in the market.
However, as the regulatory environment in the United States becomes increasingly strict, Tether faces compliance pressure.Tether’s launch of the new stablecoin, the USAT, is seen as a strategic move to enter the domestic U.S. market.
Tether’s decision was not a whim, but a response to global regulatory trends.Since 2022, institutions such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have strengthened supervision of stablecoins.As a non-local U.S.-issued product, USDT has been involved in controversy many times, including reserve transparency and anti-money laundering compliance issues.Headquartered in the British Virgin Islands, Tether, although its stablecoin is circulating globally, has been restricted in the use of the United States, and some exchanges and institutions are reluctant to directly support non-compliant assets.The purpose of launching USAT is to fill this gap and provide a stablecoin option that complies with the US legal framework.USAT will anchor the dollar at a 1:1 ratio, backed by Tether’s reserves, including high-liquid assets such as cash and U.S. Treasury bonds.
The core highlight of USAT lies in its “US Compliance” attribute.According to Tether’s official statement, the stablecoin will be issued and managed by a newly established U.S. subsidiary and is expected to be officially launched by the end of 2025, and will be open to U.S. residents, corporate and institutional users in the early stages.Unlike USDT, USAT will strictly comply with the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) regulations, supporting KYC verification.
In addition, the USAT official website issued an important reminder that USAT is not a legal currency and will not be issued, supported, approved or guaranteed by the US government.USAT is not covered by the Federal Deposit Insurance Company (FDIC), Securities Investor Protection Company (SIPC), or any other government agency.
It is worth mentioning that Tether appointed Bo Hines as CEO of his new business, a political and business veteran who served as an adviser to former President Donald Trump and ran for a seat in North Carolina in 2022.He is known for his conservative stance, especially with a positive attitude towards cryptocurrency regulation and innovative policies.
Hines’s joining is seen as a signal that Tether has drawn on American political influence.Hines revealed that the company’s new U.S. headquarters will be based in Charlotte, North Carolina.
Judging from the market impact, the launch of USAT may reshape the US stablecoin landscape.Currently, USDT is dominant in global trading volume, but in the U.S., USDC issued by Circle is one step ahead with its compliance advantage.USDC has a market capitalization of approximately $73.1 billion, serving mainly U.S. agencies such as Visa and Mastercard have integrated them into payment systems.
The emergence of USAT will directly challenge USDC’s position, especially in enterprise-level applications.Tether claims that USAT will support lower transaction fees and higher liquidity, suitable for supply chain finance, real estate transactions and cross-border remittances.For example, a U.S. exporter can use USAT to settle overseas orders instantly, avoiding high fees and delays from traditional banks.This is significantly attractive against the backdrop of the increasing uncertainty of the global economy.
