Tether said on January 27 that it is launching USA₮ (USAT), a dollar stablecoin built specifically for the US market. The token is structured under the latest US federal stablecoin framework and will be issued by a federally regulated banking institution. In its first rollout, USAT will be available on Bybit, Crypto.com, Kraken, OKX, and MoonPay.
Built Around the GENIUS Act Framework
According to the announcement, USAT is backed by US dollar reserves and designed to align with the federal stablecoin regime established by the GENIUS Act. Unlike USD₮ (USDT), which circulates broadly in international markets, USAT is aimed squarely at the United States, with intended users including domestic financial institutions, trading platforms, and compliant payment networks.
Tether said USAT is not a simple extension of an existing product line. The company described it as a stablecoin rebuilt from the ground up for a tightly regulated financial system, with compliance and risk controls at the center of its structure.
Issued by Anchorage Digital Bank
The issuer of USAT is not Tether itself but Anchorage Digital Bank, N.A. The bank is described as the first federally chartered crypto asset bank in the US and one of the few institutions able to legally issue stablecoins within the federal system.
Tether said Anchorage Digital Bank will provide a bank-grade compliance framework along with on-chain transparency, risk management, and regulatory reporting mechanisms required for institutional operations.
Separate Roles for USAT and USDT
Tether said USD₮ will continue serving international markets while moving toward compliance with the new US rules over time. USAT, by contrast, is being positioned for the US financial system, where digital adoption is high and regulatory standards are more exacting. Chief executive Paolo Ardoino said USD₮ has already demonstrated the utility and credibility of digital dollars globally, while USAT offers a “Made in America” and federally regulated digital dollar option for the domestic market.
The company also said Tether Group is now the 17th-largest holder of US Treasuries in the world. In Tether’s view, the parallel setup of USD₮ and USAT gives it distinct products for global and US-facing use cases.
Initial Platform Rollout
The first wave of listings will include Bybit, Crypto.com, Kraken, OKX, and MoonPay. Tether added that it is in talks with more compliant US exchanges and banking partners as it looks to expand USAT’s reach across the country’s financial network.
Based on the company’s announcement, USAT is being introduced as a separate regulated offering for the United States, with its issuance structure, compliance path, and market focus clearly distinguished from USDT rather than replacing it.