USAT stablecoin debut and U.S. regulatory context
USAT stablecoin debuts on January 27, 2026, issued by Anchorage Digital Bank and designed to comply with the GENIUS Act. The token is purpose-built for the U.S. market and operates under federal oversight from the Office of the Comptroller of the Currency (OCC) via Anchorage Digital Bank. Tether describes the launch as its first product designed to operate within the federal stablecoin framework established by the GENIUS Act. Anchorage is a federally chartered, crypto-native bank that channels OCC supervision for USAT’s governance and operations.
Cantor Fitzgerald will serve as reserve custodian and primary dealer at launch, and support from exchanges including Kraken, OKX, and Crypto.com is in place. Bo Hines is named CEO of Tether USAT and previously served as Executive Director of the White House Crypto Council. USAT will coexist with Tether’s global USDT and the company has set a target to reach a $1 trillion market capitalization for USAT within five years.
USAT stablecoin is purpose-built for the U.S. domestic market and will coexist with Tether’s global USDT, marking Tether’s entry into the U.S. domestic regulatory regime established under the GENIUS Act. The token is described as Tether’s first product designed to operate within that federal stablecoin framework. USAT’s launch positions it as a U.S.-focused issuance while Tether maintains its global USDT for other markets. The design emphasizes compliance with the GENIUS Act.
USAT is issued directly through Anchorage Digital Bank, which is a federally chartered, crypto-native bank, bringing the token’s governance under federal oversight by the Office of the Comptroller of the Currency (OCC). Cantor Fitzgerald will serve as the reserve custodian and primary dealer to provide bank-grade transparency and asset management from day one. Anchorage’s federal charter channels OCC supervision for USAT’s governance and operations. The operational design ties issuance, custody, and regulatory oversight together through Anchorage and Cantor Fitzgerald.
Multiple major cryptocurrency exchanges supported the USAT stablecoin launch, including Kraken, OKX, and Crypto.com. Cantor Fitzgerald was designated as the reserve custodian and primary dealer for USAT, with responsibilities described as providing bank-grade transparency and asset management from day one. The arrangement places custody and primary market functions with an established financial firm to underpin the token’s operational infrastructure. Support from these exchanges was in place at launch.
Comparison of USAT stablecoin to major stablecoins and Tether’s ambitions
USAT will coexist with Tether’s global USDT, and USDT is described as the largest stablecoin. Circle’s stablecoin is USDC. Circle’s USDC has been preferred by U.S. institutions due to transparency and domestic alignment. The USAT launch represents Tether’s entry into the U.S. domestic regulatory regime established under the GENIUS Act.
Tether aims for USAT to reach a $1 trillion market capitalization within five years. USAT is purpose-built for the U.S. domestic market and is designed to comply with the GENIUS Act. USAT is issued directly through Anchorage Digital Bank, a federally chartered, crypto-native bank, which brings governance under the Office of the Comptroller of the Currency. Cantor Fitzgerald will serve as the reserve custodian and primary dealer and is described as providing bank-grade transparency and asset management from day one.
USAT is issued directly by Anchorage Digital Bank, a federally chartered, crypto‑native bank, and is designed to comply with the GENIUS Act while operating under federal oversight from the Office of the Comptroller of the Currency through Anchorage. The token, announced on January 27, 2026, is purpose-built for the U.S. domestic market and will coexist with Tether’s global USDT as Tether’s first product intended to operate within the U.S. federal stablecoin framework. Cantor Fitzgerald is designated as the reserve custodian and primary dealer, with responsibility for providing bank‑grade transparency and asset management from day one, and major exchanges including Kraken, OKX, and Crypto.com are supporting the launch. Bo Hines leads Tether USAT as CEO and previously served as Executive Director of the White House Crypto Council. Tether has set a strategic ambition for USAT to reach a $1 trillion market capitalization within five years.
