Tether has selected Anchorage Digital, the only federally chartered digital asset bank in the U.S., to issue its upcoming regulated stablecoin USAT. The new stablecoin is designed specifically for the U.S. market and will be compliant with the GENIUS Act, which was enacted into law this year to allow for compliant stablecoin innovation.
The partnership represents a significant strategic shift for Tether, which has historically maintained an arms-length relationship with U.S. authorities. Anchorage Digital will manage issuance, reserve management, and financial compliance for USAT, bringing regulatory certainty to Tether's expansion into the U.S. market. The stablecoin will be launched by the end of 2025 on Tether's Hadron tokenization platform.
Nathan McCauley, CEO of Anchorage Digital, stated: "The GENIUS Act laid out the vision for U.S. stablecoin leadership—now, Anchorage Digital and Tether are making it a reality. Bringing the largest stablecoin ecosystem in the world to the U.S. under federal oversight is exactly what American consumers and institutions need."
Tether CEO Paolo Ardoino emphasized that "With USAT, Americans will finally have access to the same speed, reliability, and trust that have made Tether essential around the world." The move comes as Tether's flagship USDT continues to dominate the global stablecoin market with over $170 billion in circulation, representing 60-66% market share.
The announcement intensifies competition in the $288 billion stablecoin sector, particularly with Circle's USDC, which holds 28-30% market share and has positioned itself as the more regulated alternative. Tether's expansion into the U.S. market follows years of regulatory scrutiny, including a $18.5 million fine from New York's attorney general in 2021 for misleading claims about its reserves.