Overview
- Built for the GENIUS Act framework, USAT operates inside the U.S. banking system through Anchorage’s national charter.
- Cantor Fitzgerald is designated reserve custodian and preferred primary dealer overseeing backing assets.
- The token launched with availability on Kraken, OKX, Bybit, Crypto.com and MoonPay for trading and payments.
- Bo Hines leads the U.S. effort as CEO of Tether USAT, with USD₮ continuing to serve global markets alongside the new coin.
- A Standard Chartered report released alongside the debut warns stablecoin growth could drain about $100 billion from U.S. bank deposits, posing greater risk to regional lenders.