Tether to launch US domestic stablecoin USAT, appoints Bo Hines as CEO

Jinse Finance reported that Tether is launching USAT, a US dollar-backed stablecoin planned to be issued under the US regulatory framework, and has appointed Bo Hines as the future CEO of Tether USAT. USAT will strictly adhere to the regulatory standards of the US GENIUS Act, be backed by transparent reserves, and is designed to provide businesses and institutions with a digital alternative to cash and traditional payment systems. The stablecoin will utilize Tether's Hadron technology platform, with Anchorage Digital, a federally regulated crypto bank, serving as the compliant issuer, and Cantor Fitzgerald as the designated reserve custodian. Tether CEO Paolo Ardoino stated that the launch of USAT is a natural step to ensure the US dollar maintains its dominance in the digital era. Bo Hines previously served as Executive Director of the White House Crypto Committee and possesses expertise in law, business, and policy.