Tether launches its U.S.-regulated stablecoin USAT, issued by Anchorage Digital Bank

KEYTAKEAWAYS

TABLE OF CONTENTS

• KEY TAKEAWAYS
• FROM ANNOUNCEMENT TO LAUNCH, THE USAT INITIATIVE IS NOW OFFICIALLY UNDERWAY
• USAT TARGETS U.S. INSTITUTIONS AND PLATFORMS, FULLY ALIGNED WITH FEDERAL REGULATION
• CLEAR ROLE SEPARATION BETWEEN USAT AND USDT
• ANCHORAGE AS ISSUER, CANTOR AS RESERVE CUSTODIAN
• INITIAL PLATFORM LAUNCH AND REGULATORY DISCLAIMER
• DISCLAIMER
• WRITER’S INTRO

CONTENT

Tether launches USAT, a U.S.-regulated dollar stablecoin issued by Anchorage Digital Bank, fully compliant with the GENIUS Act and designed for institutional use within the U.S. financial system.

Tether has announced the launch of its new U.S. dollar stablecoin, USAT—a dollar-pegged stablecoin designed specifically for the U.S. market, fully compliant with the latest federal stablecoin legislation, the GENIUS Act, and issued by federally regulated Anchorage Digital Bank.

FROM ANNOUNCEMENT TO LAUNCH, THE USAT INITIATIVE IS NOW OFFICIALLY UNDERWAY

As early as September 2025, Tether disclosed plans to introduce a U.S. dollar stablecoin specifically designed for the American regulatory environment, later named USAT.

At the same time, Tether announced that Bo Hines, former Executive Director of the White House Crypto Advisory Council, would serve as CEO of Tether USAT, overseeing product governance and compliance strategy. With the regulatory framework gradually taking shape, Tether officially launched USAT on January 27, 2026—marking the project’s transition from planning to full market deployment.

USAT TARGETS U.S. INSTITUTIONS AND PLATFORMS, FULLY ALIGNED WITH FEDERAL REGULATION

According to Tether, USAT is a digital dollar issued under the U.S. federal stablecoin regime and fully aligned with the regulatory framework established by the GENIUS Act.

The product is designed to be fully backed by U.S. dollars, issued by a federally chartered U.S. bank, and purpose-built for the American financial and payment system. Its primary users are financial institutions and trading platforms seeking to operate compliantly within U.S. regulatory boundaries.

CLEAR ROLE SEPARATION BETWEEN USAT AND USDT

Tether also clarified the division of roles between USAT and its existing stablecoin, USDT. USDT will continue to operate globally while progressively aligning with relevant U.S. regulatory requirements. USAT, by contrast, was designed from day one specifically for the U.S. market, serving a highly digitized, institution-oriented payment and financial ecosystem.

In short, USDT functions as a globally circulating digital dollar, while USAT is positioned as a U.S.-domestic digital dollar operating under a federal regulatory framework.

ANCHORAGE AS ISSUER, CANTOR AS RESERVE CUSTODIAN

From an issuance and oversight perspective, roles within the USAT structure are clearly defined. Anchorage Digital Bank serves as the issuer of USAT, while reserve custody and primary dealer services are handled by Cantor Fitzgerald.

Tether stated that this structure ensures transparent reserve management, bank-grade risk controls, and regulatory compliance, allowing USAT to be subject to U.S. regulatory scrutiny from day one. Anchorage emphasized that USAT is designed not only for compliance, but for long-term stability within a regulated environment—covering on-chain transparency, risk management, and institutional-grade daily transaction needs.

INITIAL PLATFORM LAUNCH AND REGULATORY DISCLAIMER

Under Tether’s rollout plan, USAT will initially be available on platforms including Bybit, Crypto.com, Kraken, OKX, and MoonPay.

Tether also stressed that USAT is not legal tender in the United States. It is not insured by the FDIC, protected by the SIPC, or backed by any government entity, nor is it issued or guaranteed by the U.S. government. The sole issuer of USAT is Anchorage Digital Bank.

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