Tether, the leading stablecoin issuer, is launching USAT, a US-specific stablecoin, to comply with new U.S. laws. USAT will be fully backed by USD and compliant with the GENIUS Act, set to launch by the end of 2025. Tether’s market cap is $170 billion, making it a significant player in the industry. USAT will be issued by Anchorage Digital Bank and custody by Cantor Fitzgerald, meeting regulatory requirements. Bo Hines, a former White House crypto council executive director, predicts USAT’s rapid growth post-launch. The GENIUS Act establishes guidelines for stablecoin issuers in the U.S., ensuring compliance and reserve requirements. Foreign stablecoin issuers must meet specific criteria to operate in the U.S. USAT’s introduction is a strategic move by Tether to remain dominant in the market and comply with regulations.

Read more at Yahoo Finance: Why Tether is launching USAT, its U.S.-only stablecoin