"Tether, the world's largest stablecoin issuer, now has a foothold in the country that President Donald Trump calls the 'crypto capital of the world.' The company announced on Tuesday that it launched USAT, a stablecoin designed to be compliant with U.S. regulations that it first teased last fall. The new stablecoin will be issued through the federally chartered bank Anchorage and was created to comply with the Genius Act,"
"The launch marks the latest example of Tether's growing influence in finance and in the tech sector more broadly, where the company-which made $15 billion in profits last year-is investing heavily. Tether already dominates the stablecoin field, and its latest move should only bolster that standing. The company has more than 60% of the market share of stablecoins, and for years its Achilles heel was that it was not issued in the U.S, crypto's biggest market."
Tether launched USAT, a U.S.-compliant stablecoin issued through federally chartered Anchorage and created to comply with the Genius Act. The launch gives Tether an entry into the American market long dominated by Circle's USDC. Tether controls more than 60% of the global stablecoin market and reported $15 billion in profits last year while investing heavily across finance and tech. The Genius Act established a regulatory framework that drew banks and tech firms to digital dollars. Tether previously faced regulatory challenges, including a 2021 New York settlement and a reported 2024 DOJ investigation. Competition so far has had limited impact.
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