Tether has announced the official market launch of USA₮, a federally regulated, dollar-backed stablecoin designed specifically for use within the United States. Issued by Anchorage Digital Bank, N.A., USA₮ operates under the federal stablecoin framework established by the GENIUS Act, marking a notable shift in how stablecoin issuers are aligning with US regulatory structures.
The launch follows Tether’s late-2025 announcement detailing the product’s design and leadership, including the appointment of former White House Crypto Council Executive Director Bo Hines as chief executive of Tether USA₮. With its debut, USA₮ becomes available to US-based institutions and platforms seeking a digital dollar that operates within a nationally chartered banking regime.
Institutional Alignment under the GENIUS Act
USA₮ is purpose-built to meet the operational and compliance expectations of the US financial system, rather than adapting an existing offshore stablecoin model. While Tether’s flagship USD₮ continues to dominate global stablecoin usage, USA₮ is structured for domestic payments, trading, and settlement use cases that require federal oversight and bank-issued instruments.
Anchorage Digital Bank serves as the issuer, providing bank-grade compliance, on-chain transparency, and integrated risk management. Cantor Fitzgerald has been named reserve custodian and preferred primary dealer, offering institutional visibility into reserves and reinforcing the asset’s alignment with traditional capital markets infrastructure. Tether said US-regulated exchanges and banking partners are being onboarded to support broad distribution.
Competitive and Macroeconomic Context
The launch places Tether in more direct competition with US-regulated stablecoin issuers and bank-backed token initiatives as lawmakers push for clearer federal rules. With the GENIUS Act creating a defined pathway for compliant issuance, USA₮ enters a market where institutional adoption increasingly hinges on regulatory clarity, custody standards, and reserve transparency.
At a macro level, Tether is positioning itself as a significant participant in the US financial system. The Tether Group is currently the 17th-largest holder of US Treasuries globally, holding more than several sovereign nations. This scale underscores the growing role of dollar-backed stablecoins in supporting global dollar demand, payments, and liquidity outside traditional banking channels.
Paolo Ardoino, Tether’s chief executive, described USA₮ as an extension of the company’s long-standing stablecoin model into a regulated US framework. Bo Hines emphasized stability, transparency, and governance as core priorities as the product enters the market.
During its initial rollout, USA₮ will be supported on platforms including Bybit, Crypto.com, Kraken, OKX, and MoonPay. While USA₮ is not legal tender and carries no government insurance protections, its launch signals a convergence between large-scale stablecoin issuance and US federal banking oversight, reflecting a broader institutionalization of digital dollars.
