Tether, the company behind the popular USDT stablecoin, is making some major changes. They’ve appointed a new CEO for their US operations and launched a brand-new stablecoin designed specifically for American businesses.
A New CEO and a New Stablecoin
Bo Hines, a former advisor to President Trump on crypto matters, is now the CEO of Tether US. He’ll be based in Charlotte, North Carolina. This move comes alongside the launch of a new stablecoin called USAT. This coin will operate under the new GENIUS Act, which aims to regulate the stablecoin market in the US.
While USDT will continue to be used globally, USAT is specifically aimed at US businesses and institutions that need to comply with US regulations. Tether’s own technology, called Hadron, will be used to create USAT. Anchorage Digital will issue the coin, and Cantor Fitzgerald will manage its reserves.
Tether’s CEO Weighs In
Tether’s CEO, Paolo Ardoino, is excited about USAT. He sees it as a way to build trust and make digital finance more accessible. He highlighted Tether’s long history with USDT and its role in bringing financial services to people in developing countries. Ardoino emphasized Tether’s commitment to keeping the US dollar strong in the digital world, saying USAT is a key part of that plan.