NEW YORK – At a private event in Manhattan on Friday, stablecoin giant Tether announced USAT, a fully compliant U.S.-specific stablecoin designed to improve Tether’s presence in America.
Bo Hines, the former White House Crypto Council Executive Director, will lead the firm, which will initially be based in Charlotte, North Carolina.
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“Bo’s appointment demonstrates our commitment to building a strong U.S.-based presence that spans across multiple sectors, starting with digital assets and expanding to new opportunities, including a deep focus on potential further investments in domestic infrastructure,” Tether CEO Paolo Ardoino said in a statement.
Tether markets USAT as a “planned U.S.-regulated, dollar-backed stablecoin . . . backed by transparent reserves, strong governance, and American leadership from day one.”
During the private event in midtown Manhattan, Ardoino presented on Tether’s unprecedented year-over-year growth.
He noted that Tether would be the 18th largest holder of U.S. Treasury bonds if it were a country. The stablecoin provider added 30 million users in Q2 2025 with over 17 million transfers of USDT per day, per the CEO’s presentation.
“We serve the people who know one would want to touch with a ten foot pole,” Ardoino said, noting that the Global South is contributing substantially to Tether’s parabolic growth.
Ardoino also presented on Tether’s multiple tech growth initiatives, including local large language models (LLM) software for smart phones, Bitcoin wallet infrastructure, Bitcoin mining open source software, peer-to-peer text services, and much more.
This is a developing story, check back for updates.
