Tether Unveils USAT Stablecoin with Former White House Crypto Official Bo Hines

Tether, the world's largest stablecoin issuer, announced September 12 the launch of USAT, a U.S.-regulated dollar-backed stablecoin designed to comply with American financial regulations. The Bermuda-based company simultaneously appointed Bo Hines, former Executive Director of the White House Crypto Council, as CEO of Tether USAT. 

The new stablecoin will operate under the recently enacted GENIUS Act, landmark U.S. legislation governing stablecoin issuance. Anchorage Digital, the first federally regulated crypto bank, will serve as the GENIUS Act-compliant issuer, while Cantor Fitzgerald will act as reserve custodian and preferred primary dealer.

Tether's existing USDT token maintains a market capitalization exceeding $169 billion and serves nearly 500 million users globally, making it the most widely adopted stablecoin. The company reported profits exceeding $13 billion in 2024 and ranks as the 18th largest holder of U.S. Treasuries, ahead of Germany, South Korea, and Australia.

USAT will leverage Hadron by Tether, the company's real-world-assets tokenization platform, and tap into Tether's global distribution network. The token aims to provide businesses and institutions with a digital alternative to cash and traditional payment systems while maintaining strict regulatory compliance and transparent reserves.

Hines brings legal, business, and policy expertise to his role, having operated at the intersection of governance, law, and financial innovation. His appointment reflects Tether's commitment to U.S.-based leadership with understanding of American regulatory priorities.

"For over a decade, Tether has issued USDT, the backbone of the digital economy, proving that digital assets can deliver trust, resilience, and freedom on a global scale," said Paolo Ardoino, CEO of Tether. "USAT is our commitment to ensuring that the dollar not only remains dominant in the digital age, but thrives through products that are more transparent, more resilient, more accessible, and more unstoppable than ever before."

Hines emphasized the strategic importance of the launch, stating he was honored to lead USAT in creating a U.S.-regulated stablecoin designed to strengthen America's role in the global economy. The new token will be built with compliance, transparency, and innovation as core principles.

The launch comes as the stablecoin market continues expanding, with USDT processing daily transaction volumes that exceed major credit card and remittance companies. Tether has positioned itself as the digital dollar for emerging markets and developing countries, particularly serving underbanked and unbanked populations.

USAT will not constitute legal tender under U.S. law and will not be backed, approved, or guaranteed by the U.S. government. The token will also lack insurance protections from the Federal Deposit Insurance Corporation or other government agencies.


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