Tether has officially launched its GENIUS Act-compliant USAT stablecoin on the Celo blockchain, marking the token’s first expansion beyond Ethereum and its second live mainnet deployment. The move, confirmed by Tether US CEO Bo Hines, underscores the company’s commitment to diversifying its stablecoin offerings while tapping into Celo’s fast, low-cost payment infrastructure.
USAT, issued by federally chartered crypto-native bank Anchorage Digital Bank under OCC regulation, is designed for users and institutions seeking a digital dollar aligned with evolving U.S. regulatory standards. On Celo, it supports native minting and burning, and leverages the network’s CIP-64 gas abstraction upgrade, allowing transaction fees to be paid directly in USAT without needing to hold CELO tokens. This simplifies user experience and reduces friction for everyday payments.
Celo has already emerged as a hub for Tether products, accounting for a significant share of cross-chain USDT transfers and Tether Gold activity. The integration of USAT builds on that momentum. Though USAT currently holds a modest $185 million market capitalization—far below USDT’s supply—its expansion highlights rising demand for compliant stablecoins across multiple blockchains.
Industry watchers see the launch as a strategic step for Tether to gain deeper DeFi exposure on a mobile-first, Ethereum-compatible network. As stablecoin competition intensifies, the Celo deployment could encourage other issuers to adopt similar multi-chain approaches.
