Tether to Launch New US Stablecoin, Bo Hines to Lead Project (2)

Tether Holdings SA, the company behind the world’s most traded cryptocurrency, is bringing its digital dollar home, unveiling a US-regulated stablecoin and appointing Bo Hines, a former White House crypto official, to lead the effort.

The token will be launched in partnership with Cantor Fitzgerald LP and Anchorage Digital Bank NA, El Salvador-based Tether said in an announcement Friday. The project is designed to be compliant with the Genius Act, legislation passed earlier this year that outlined federal rules for stablecoins, though it’s early days for the regulatory regime.

Stablecoins are cryptocurrencies meant to ...