Tether Returns to US Market With Launch of USAT Stablecoin (1)

Tether Holdings SA said it has launched a US-focused stablecoin, as the world’s largest issuer of dollar-pegged tokens prepares to return to crypto’s largest market.

The new token, known by its ticker USAT, was issued by Anchorage Digital Bank NA, according to a statement published Tuesday. Cantor Fitzgerald LP,which already manages the reserves of Tether’s mainstay $186 billion USDT stablecoin, will do the same for the new coin as its designated reserve custodian and preferred primary dealer.

Several crypto exchanges said they had made USAT available for trading on Tuesday, including Bybit, Crypto.com and OKX.

Stablecoins are cryptocurrencies ...