Tether is launching USAT, a dollar-backed stablecoin planned to be issued under the US regulatory framework, and has appointed Bo Hines as the future CEO of Tether USAT.

USAT will strictly adhere to the regulatory standards of the US "GENIUS Act", backed by transparent reserves, aiming to provide digital alternatives to cash and traditional payment systems for businesses and institutions. This stablecoin will utilize Tether's Hadron technology platform, with federally regulated crypto bank Anchorage Digital as the compliant issuer, and Cantor Fitzgerald as the designated reserve custodian.

Tether CEO Paolo Ardoino stated that the launch of USAT is a natural step to ensure the dominance of the dollar in the digital age. Bo Hines previously served as the Executive Director of the White House Cryptocurrency Committee, with expertise in legal, business, and policy.