Tether Unveils U.S-regulated Stablecoin USAT, With Bo Hines As CEO

Tether has announced the planned launch of its U.S.-regulated stablecoin USAT, with Bo Hines, former digital assets advisor to President Donald Trump, as head of the project.

Tether said on Sept. 12 that it planned to issue USAT as a regulated, dollar-backed stablecoin for the U.S. market, and that Bo Hines would become its first chief executive officer.

Unveiling of USAT and Hines appointment as CEO positions Tether UAST as a project that boasts “transparent reserves, strong governance, and American leadership from day one,” the company said in the press release.

USAT will comply with the GENIUS Act, the stablecoin legislation that recently became law in the United States. GENIUS targets stablecoin issuance and supports adoption across the U.S., with digital asset innovation central to the shift in approach to financial regulation regarding crypto.

“I am honored to lead USAT as we prepare for its launch, creating a U.S.-regulated dollar-backed stablecoin designed to strengthen America’s role in the global economy,” said Bo Hines. “By building USAT with compliance, transparency, and innovation at its core, we are ensuring that the dollar remains the foundation of trust in the digital asset space.”

Tether will tap into federally regulated crypto bank Anchorage Digital as the token issuer. Meanwhile, Cantor Fitzgerald is set to be USAT’s reserves manager. USAT launch is targeted for rollout in late 2025.

Tether’s upcoming entry into the U.S.-regulated stablecoin market will see it battle for traction alongside key players such as Circle, Ripple and World Liberty Financial. Hines joined Tether in August, with the company announcing he would lead its U.S. expansion efforts.

Making inroads as a compliant stablecoin also means no major uncertainty as that which befell Tether’s flagship product – the USDT (USDT) as European Union’s Markets in Crypto Assets rules came into effect in December 2024. Compliance across the U.S. means Tether could eye public listing in the country.

USDT is the world’s largest stablecoin, with a market capitalization of over $169 billion. Usage across the globe sees its daily transaction volumes exceed those of many traditional finance giants, including credit card and remittance providers.

Meanwhile, Tether Group’s footprint as a crypto company saw it net over $13 billion in profits in 2024, and it is currently one of the largest holders of U.S. Treasuries. According to recent details, Tether has outpaced Germany, South Korea, and Australia to rank 18th on the list of leading U.S. Treasuries holders.

Commenting on Tether’s growth, CEO Paolo Ardoino said:

“Today, with the introduction of USAT and Bo Hines’s appointment as future CEO of Tether USAT, we are taking the next natural step, bringing that same strength to the U.S. under a world-leading U.S.-regulatory framework.”