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US Stablecoin Innovator Tether Launches USAT, Appoints Trump Ally as CEO

Tether, the issuer of the widely recognized stablecoin USDT, is expanding its footprint in the United States.

The company announced its new dollar-pegged asset, USAT, which aims to be regulated under U.S. law and will be supported by transparent reserves.

This new initiative aligns with the recent GENIUS Act, legislation that establishes a regulatory framework for stablecoins, mandating full backing by liquid assets.

Bo Hines, a notable ally of former President Trump, will take on the role of CEO for Tether's U.S. operations, illustrating a strategic political connection.

Tether’s CEO, Paolo Ardoino, emphasized that this move is designed to enhance the stability and appeal of the US dollar in the evolving digital financial landscape.

He stated, "USAT is our commitment to ensuring that the dollar not only remains dominant in the digital age, but thrives."

The firm is already a significant holder of U.S. Treasuries, reinforcing its belief in the dollar's long-term value.

Cantor Fitzgerald, a well-respected financial services giant, will act as the designated reserve custodian for USAT.

This launch represents Tether's effort to align its operations with regulatory standards while providing robust digital financial solutions.

In summary, Tether's new initiative marks an important step toward integrating stablecoins within the U.S. regulatory framework, contributing to the future of digital currency.