- Tether plans to expand its US dollar stablecoin user base in the U.S. to 100 million by launching a new token called USAT.
- The USAT token will comply with U.S. federal regulations under the GENIUS Act and launch this December through a joint venture with Anchorage Digital.
- Tether aims to use its existing investment in the video platform Rumble, with 51 million U.S. users, plus additional investments, to grow USAT adoption.
- Stablecoin USDT’s market supply has increased to $182 billion, dominating the $300 billion stablecoin market, while the Gold-backed XAUT token reached a record $2.2 billion market size.
- Retail demand, especially in Central and South America and Asia, has driven growth in tokenized gold (XAUT), supported by market makers and institutional investors.
Tether, the company behind the US dollar stablecoin USDT, announced plans to expand its U.S. user base to 100 million with a new token called USAT. The USAT token is designed specifically for the U.S. market and will comply with federal regulations from the GENIUS Act. It is set to launch in December through Tether America, a partnership with regulated U.S. crypto bank Anchorage Digital.
The company intends to leverage its $775 million investment in the video sharing platform Rumble, which has 51 million active monthly users in the U.S., as a major distribution channel for the USAT token. Tether CEO Paolo Ardoino said the company plans to invest in two or three additional firms, likely within social media or content platforms, to increase the targeted user base to 100 million.
Tether’s flagship stablecoin USDT has grown to a market supply of $182 billion, up one-third since the year’s start. This amount dominates the overall $300 billion stablecoin market. Its main competitor, Circle’s USDC, holds about $72 billion and has grown 70% this year.
In addition to stablecoins, Tether’s physical gold-backed token, XAUT, has surged to a record $2.2 billion market value due to rising gold prices. This growth is driven largely by retail investors in Central and South America and Asia learning about tokenized gold, with market makers capitalizing on arbitrage opportunities in secondary markets involving futures contracts.
A Nasdaq-listed firm recently raised $150 million to accumulate more of Tether’s tokenized gold, reflecting increased institutional interest. Ardoino stated, “We see retail in Central and South America and Asia piling up now, starting to learn about tokenized gold.”
For more details on the USAT stablecoin and Tether’s plans, see Tether Unveils USAT Stablecoin for U.S. Market, Names Bo Hines to Lead New Division. Additional insights on synthetic AI datasets from Tether are available at Tether Unveils Synthetic AI Dataset to Democratize STEM Intelligence.
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