Tether Unveils USAT Stablecoin for U.S. Market, Names Bo Hines to Lead New Division

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By Krisztian Sandor , Will Canny | Edited by Sheldon Reback Sep 12, 2025, 3:32 p.m. Tether (CoinDesk) What to know : Tether unveiled a U.S.-regulated stablecoin called USAT, designed to meet the requirements of the GENIUS Act and to be introduced later this year. Bo Hines was named CEO of Tether's American division. Anchorage Digital will issue the token, Cantor Fitzgerald will manage its reserves. Tether, the company behind the world’s most popular stablecoin, USDT, unveiled a U.S.-regulated, dollar-backed token called USAT and appointed Bo Hines as head of its American division. Anchorage Digital, a federally regulated crypto bank, will serve as the token’s issuer, while Cantor Fitzgerald will manage the reserves. The token will debut later this year, Tether CEO Paolo Ardoino said on stage at event in New York on Friday. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . Hines, a lawyer and former director of the White House Crypto Council advising President Donald Trump on crypto policies, will lead Tether's new U.S entity. The move marks Tether’s first foray to create a stablecoin for U.S. oversight. It is designed to meet the requirements of the recently enacted GENIUS Act, the law setting federal rules for stablecoin issuers. Tether’s USDT stablecoin has grown into a $169 billion asset with hundreds of millions of users worldwide. It is particularly popular in emerging markets, where high banking fees and inflation push people toward digital dollars. It has, however, faced questions from regulators and policymakers about oversight and transparency. The new USAT token is being framed as a product for U.S. businesses and institutions, backed by disclosed reserves and governed under U.S. standards. "By building USAT with compliance, transparency and innovation at its core, we are ensuring that the dollar remains the foundation of trust in the digital asset space," Hines said in a statement. Stablecoins Tether More For You Winklevoss-Backed Gemini Prices IPO at $28/Share, Values Crypto Exchange at More Than $3B By Will Canny | Edited by Sheldon Reback 4 hours ago The digital asset firm backed by the billionaire Winklevoss twins sold 15.2 million shares, and raised $425 million. What to know : Crypto exchange Gemini priced its IPO at $28/share, valuing the crypto exchange at about $3.3 billion. The company sold 15.2M shares, raising $425 million. The stock starts trading Friday. 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