Tether Unveils USAT Stablecoin, Appoints Bo Hines as CEO of U.S. Arm
Tether launches USAT, a regulated U.S. dollar-backed stablecoin, with Bo Hines as new U.S. CEO.
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Tether has announced the launch of USAT, a new U.S.-regulated dollar-backed stablecoin, alongside the appointment of Bo Hines as CEO of its newly created U.S. division.
Hines, formerly the Executive Director of the White House Crypto Council under President Trump, was already serving as a strategic advisor to Tether.
USAT is designed to complement USDT, which currently has around $169 billion in circulation, by offering a transparent, well-governed, U.S.-compliant alternative.
According to Tether’s press release, “The simultaneous introduction of both the token and CEO reflects our commitment to launching a regulated, reserve-backed stablecoin with strong American leadership from day one.”
The USAT team will be headquartered in Charlotte, North Carolina, Hines’ home state.
In a press conference, Tether Group CEO Paolo Ardoino confirmed that there are no plans for a public listing at this time.
Tether is currently the 18th largest holder of U.S. Treasury bonds and posted $13 billion in profits in 2024, with strong projections for 2025.
