The company Tether announced the launch of a new stablecoin backed by the US dollar. The CEO of the issuing organization Tether #USAT will be former White House cryptocurrency advisor Bo Hines.
According to the statement, the new stablecoin will meet the reserve requirements and compliance standards of the GENIUS stablecoin law and will use the Tether Hadron real asset tokenization platform.
Tether is already one of the largest holders of US Treasury bonds, as we deeply believe in the enduring strength of the dollar. USA₮ is our commitment to ensure not only the dominance of the dollar in the digital age but also its prosperity, said Tether CEO Paolo Ardoino.
After the passage of stablecoin regulation laws by the administration of President Donald Trump, many other countries seized this initiative, including China.
According to RWA.XYZ, the total volume of stablecoins recently exceeded $270 billion, and this is clearly just the beginning of the sector's development.