"One of crypto's largest, and most controversial, companies is coming to the U.S. On Friday, at an event hosted at a spy museum in New York City, the stablecoin issuer Tether announced that it was launching a U.S. stablecoin called USAT, a stunning reversal for an operation that just last year appeared to be in the crosshairs of U.S. law enforcement officials."
"To launch USAT, Tether has tapped Anchorage Digital, one of the largest crypto custodians that has touted its ability to issue stablecoins compliant with the Genius Act -newly passed legislation in the U.S. that establishes guardrails for the issuance and management of stablecoins. Tether's longtime partner Cantor Fitzgerald will serve as the custodian to hold the new stablecoin's reserves. Tether's decision to launch a U.S. stablecoin reflects the changing fortunes for the stablecoin giant, which counts Commerce Secretary Howard Lutnick as one of its top advocates."
One of crypto's largest and most controversial companies is launching a U.S. stablecoin called USAT. Tether tapped Anchorage Digital to issue USAT and Cantor Fitzgerald to custody the reserves. The new coin is positioned as compliant with the Genius Act, newly passed U.S. legislation establishing guardrails for stablecoin issuance and management. Bo Hines will serve as USAT's CEO. The announcement came at an event in a New York spy museum attended by political and crypto figures including Commerce Secretary Howard Lutnick, Representatives Bryan Steil and Addison McDowell, and venture capitalists Matt Huang and Kyle Samani. Tether was founded in 2014 and its USDT grew into the largest stablecoin by market presence.
Read at Fortune Crypto
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