Why Tether Is Rolling Out a Separate U.S. Stablecoin
Tether has formally entered the U.S. stablecoin market with the launch of USA₮, a dollar-backed token issued through Anchorage Digital Bank and structured to operate under the federal framework created by the GENIUS Act. The launch comes after years in which Tether’s flagship USDT, despite being backed largely by dollar-denominated reserves, remained unavailable to U.S. users.
The timing reflects a change in regulatory conditions rather than a sudden shift in strategy. Congress passed the GENIUS Act last summer, creating a dedicated federal regime for stablecoin issuance. USA₮ was unveiled by Tether in November and is now being introduced as a product designed specifically for U.S. customers seeking a regulated digital dollar.
“Today’s launch marks the formal market introduction of USAT,” Tether said Tuesday. “USAT is now available to U.S. users seeking a dollar-backed token built to operate within the U.S.’ dedicated federal regime.”
Anchorage Digital Bank serves as the acting issuer of USA₮, with Cantor Fitzgerald named as reserve custodian and preferred primary dealer. The structure places the token squarely inside the U.S. banking system, a notable departure from how USDT has historically operated.
Investor Takeaway
How Oobit Turns USA₮ Into a Consumer Payment Tool
The rollout is closely tied to Oobit, a Tether-backed mobile payments app that has added support for USA₮ as a settlement asset. Oobit launched in the U.S. earlier this month and is positioning itself as the bridge between stablecoins and everyday spending.
Through the app, users can send USA₮ peer-to-peer to any crypto wallet or spend it at physical and online merchants that accept Visa debit and credit cards. Oobit says the model requires no integration work from merchants. Payments are converted into fiat and settled directly into merchants’ U.S. bank accounts via Anchorage.
“The Digital Dollar is only real when you can buy something with it,” said Oobit CEO Amram Adar. “Tether delivered the regulatory foundation with USA₮. We deliver the moment of use. This is the final piece that turns stablecoins into everyday money in the United States.”
With more than 14 million U.S. merchants already accepting Visa, Oobit’s approach relies on existing payment rails rather than new point-of-sale infrastructure. Users can also connect external wallets such as MetaMask and Trust Wallet while retaining custody of their funds.
Regulation, Reputation, and the Anchorage Structure
The U.S. launch follows years of regulatory pressure on Tether, including probes by U.S. authorities examining whether the company had links to illicit activity. While no recent enforcement action has accompanied the USA₮ rollout, the design of the product reflects an effort to operate inside clearly defined supervisory boundaries.
Anchorage Digital CEO Nathan McCauley framed the structure as a test of what regulated issuance looks like in practice. “For five years, we’ve operated as a federally regulated bank, purpose-built for digital assets,” he said. “USAT reflects what’s possible when stablecoin issuance is done inside the U.S. banking system, under real supervision, with real accountability, at real scale.”
Oversight of the USA₮ launch will include Bo Hines, a former White House crypto policy advisor who became CEO of Tether USAT last September. “Our focus is stability, transparency, and responsible governance, ensuring that the United States continues to lead in dollar innovation,” Hines said.
USA₮ will initially be available on Bybit, Crypto.com, Kraken, OKX, and MoonPay, giving it immediate distribution across both U.S. and international crypto venues.
Investor Takeaway
How USA₮ Fits Into the Broader Stablecoin Race
The launch comes as stablecoins gain traction across traditional finance. Global supply has climbed steadily, with banks and payment firms exploring tokenized dollars as settlement tools. At the World Economic Forum last week, Circle CEO Jeremy Allaire said adoption across the banking system is accelerating and could drive compound annual growth of around 40%.
For Tether, USA₮ serves a different purpose than USDT. While USDT dominates global crypto trading and cross-border payments, USA₮ is designed to compete more directly with domestic payment incumbents such as PayPal and Stripe by offering regulated, dollar-based settlement tied to existing card networks.
Paolo Ardoino, Tether’s CEO, said the company sees a large opening in the U.S. market. “USDT has proven for more than a decade that digital dollars can deliver trust, transparency, and utility at a global scale,” he said. “USAT extends that mission by providing a federally regulated product designed for the American market.”
