Tether, in partnership with Anchorage Digital Bank, has released the inaugural reserve attestation report for its U.S.-dollar payment stablecoin, USA₮ (USAT). The report, dated March 2, 2026, confirms that reserve assets total $17,604,716, exceeding the outstanding stablecoin supply of 17,501,391 tokens by $103,325, representing a roughly 0.6% over-collateralization.
The reserve assets consist exclusively of U.S. dollar cash and reverse repurchase agreements collateralized solely by U.S. Treasury securities. These assets are held in segregated fiduciary trust accounts and are redeemable on a 1:1 basis for U.S. dollars. The stablecoin, which launched on January 27, 2026, operates under the supervision of the Office of the Comptroller of the Currency (OCC) and is designed to be fully compliant with the GENIUS Act passed in July 2025.
Paolo Ardoino, CEO of Tether, commented on the release, stating it reflects strong early demand for a "resilient, dollar-backed digital asset tailored to the U.S. market." He emphasized that the report helps define "the next chapter of digital dollars in the United States." Nathan McCauley, co-founder and CEO of Anchorage Digital, highlighted that transparent attestations and clear reserve management are foundational for stablecoins to become core financial infrastructure, meeting institutional expectations for safety and reliability while offering modern payment capabilities.
This move marks a strategic shift for Tether, which has historically faced scrutiny over its reserve transparency and regulatory compliance. By partnering with Anchorage Digital, a federally chartered bank, Tether aims to offer a fully regulated alternative to its dominant global stablecoin, USDT, specifically for the U.S. market. USDT continues to lead the global stablecoin sector with a market capitalization exceeding $183 billion, within a total stablecoin market nearing $300 billion.
USAT CEO Bo Hines suggested that expanding issuance of USA₮ could position it as a significant buyer of U.S. Treasury bills in the future. Anchorage Digital indicated that this first report is an initial step, with further disclosures to follow routine reporting cycles.
