Tether Launches USA₮ Stablecoin, Names Former Trump Crypto Adviser as CEO

Tether has announced plans to launch a new U.S.-regulated stablecoin called USA₮. Alongside the token, the company named former White House crypto adviser Bo Hines as the future Chief Executive Officer of Tether USA₮.

Tether plans to launch USA₮ as a regulated dollar-backed stablecoin in the United States. The company said it will follow U.S. rules, be backed by reserves, and face oversight from the start.

Role of USD₮ in Global Markets

Tether already issues USD₮, the most widely used stablecoin globally. USD₮ has a market capitalization of more than $169 billion and records daily transaction volumes that exceed some leading payment firms.

The token is widely used in emerging markets, particularly among underbanked populations. Tether estimates that nearly 500 million people use USD₮.

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Background of Hines

Hines has a background in law, business, and government. He previously served as Executive Director of the White House Crypto Council and has experience as an entrepreneur.

Compliance and Infrastructure for USA₮

The company stated that USA₮ will be developed in line with the recently enacted GENIUS Act, the new U.S. law governing stablecoins. The token will be issued by Anchorage Digital, a federally regulated crypto bank, ensuring compliance with the Act.

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Cantor Fitzgerald will act as reserve custodian and serve as primary dealer. The technology behind the new coin will be based on Hadron, Tether’s tokenization platform.

Financial Position and U.S. Treasuries

Tether Group has become one of the most profitable companies in the sector. It reported earnings above $13 billion in 2024 and is expected to post similar results in 2025. The firm is also a large holder of U.S. Treasuries, ranking 18th globally, ahead of several developed economies.