TLDR
- Tether has announced the launch of its new dollar-backed stablecoin, USA₮.
- The USA₮ stablecoin will comply with the reserve requirements of the recently passed GENIUS bill.
- Tether’s Hadron platform will be used for real-world asset tokenization in the new stablecoin.
- Paolo Ardoino, CEO of Tether, emphasized the company’s commitment to the dominance of the dollar in the digital age.
- Former White House crypto adviser Bo Hines has been appointed as the CEO of Tether USAT.
Tether has announced the launch of a new dollar-backed stablecoin, USA₮. This move follows Tether’s commitment to adhering to the recently passed GENIUS stablecoin bill. Former White House crypto adviser Bo Hines will assume the role of CEO of Tether USAT.
Tether’s New Stablecoin Consistent with GENIUS Bill
The new USA₮ stablecoin will comply with the reserve requirements and standards of the GENIUS bill. Tether claims the coin will use its Hadron platform, focusing on real-world asset tokenization. The platform aims to integrate stablecoins with the global financial system, ensuring the dollar’s dominance in the digital economy.
Tether’s CEO, Paolo Ardoino, expressed confidence in the power of the dollar. “Tether is already one of the largest holders of US Treasuries,” he said. He emphasized that Tether aims to strengthen the dollar’s role in the digital age.
Bo Hines Appointed CEO of Tether USAT
Bo Hines will take the helm of Tether USAT after resigning from the White House Crypto Council in August. His appointment comes shortly after the White House’s release of a report on crypto policy. Hines’ transition signals a new phase for Tether as it pushes forward with its stablecoin initiative.
Hines’ experience in both government and the private sector makes him a valuable addition to Tether. His leadership will likely influence the development of USA₮ in the coming months. Tether is positioning USA₮ as a key player in the evolving global digital currency landscape.
Stablecoins are increasingly seen as a tool to maintain US dollar dominance in global markets. US Treasury Secretary Scott Bessent highlighted their importance in ensuring access to the dollar through digital means. Countries like China have also begun focusing on stablecoin initiatives, recognizing their strategic value in global finance.
