Tether has launched USAT, a new regulated stablecoin for the U.S. market, managed by Anchorage Digital Bank and supported by major exchanges.
Tether has officially launched USAT, a federally regulated stablecoin designed for the U.S. market. This development aligns with the provisions of the Genius Act.
"Get ready!
USA₮ is live. 🚀
The digital dollar that operates at internet speed. Always 1:1. Instant. Borderless."
— USAT (@usat) January 27, 2026
The issuance of USAT is overseen by Anchorage Digital Bank, N.A., which is recognized as the first federally licensed stablecoin issuer in the U.S. The token's reserves will be managed by Cantor Fitzgerald, serving as the custodian and primary dealer.
Initially, USAT will be available for trading on platforms including Bybit, Crypto.com, Kraken, OKX, and through the payment service Moonpay.
“USAT provides institutions with a viable option: an American-made stablecoin. USDT has demonstrated over a decade that digital dollars can foster trust, transparency, and utility globally,” remarked Tether CEO Paolo Ardoino.
Tether's initiative to introduce an American stablecoin was first made public in May, with further announcements in September about the leadership of the local division under Bo Hines, a former executive with the Cryptocurrency Advisory Council during President Trump's administration.
The launch of USAT is also supported by a significant promotional investment in Rumble, where Tether committed $775 million in December 2024.
Market Positioning
Additionally, Tether has revealed that its gold-backed stablecoin, XAUT, holds more than half of the total market share in this niche, which is estimated to be worth $5 billion. XAUT itself accounts for over $2 billion of this market.
Tether Gold now represents over half of the gold-backed stablecoin market, with XAU₮ exceeding $4 billion in value.
As of late 2025, there were 520,089 XAUT tokens in circulation, translating to a market capitalization of $2.6 billion. Ardoino indicated that Tether’s gold reserves are now comparable to those held by several sovereign nations.
In September, Tether’s gold reserves reached 116 tons, ranking alongside gold holdings of countries like South Korea and Hungary. Analysts from Jefferies suggested that Tether might acquire an additional 100 tons of physical gold by year’s end.
In the fourth quarter alone, Tether added 27 tons to its reserves, positioning it within the top 30 gold holders globally, surpassing nations such as Greece, Qatar, and Australia. The demand for tokenized precious metals is on the rise amid a rally, with gold prices recently exceeding the $5000 mark.
It's also noteworthy that the value transferred via USDC from Circle in 2025 has surpassed that of USDT.
