Tether's New Stablecoin USAt Meets US GENIUS Act Requirements
Tether, the issuer of the world's largest stablecoin USDT, has introduced a new product - the USAt stablecoin, which has been launched in accordance with the new regulatory framework in place in the United States. The new stablecoin will be issued and serviced by the Anchorage Digital Bank, and the reserves will be backed by Cantor Fitzgerald.
The launch of USAt is connected to the recent enactment of the GENIUS Act (Guardrails and Regulations for Emerging Innovation Using Stablecoins) in the US. This law has established clear rules and requirements for stablecoin issuers operating in the United States.
According to these requirements, stablecoins must be 100% backed by reserves, to which the regulator has access, and the issuers themselves must undergo regular audits and disclose information about the composition and structure of the reserves. Additionally, stablecoin issuers must obtain a special license from the US authorities.
Prospects of USAt in the US Market
The launch of the regulated stablecoin USAt is an important step for Tether towards compliance with US legislation. This will allow the company to strengthen its position in the world's largest cryptocurrency market and increase trust from users and regulators.
At the same time, the launch of USAt presents Tether with new challenges. The company will have to ensure transparency in the reserve structure of the new stablecoin, regularly report to auditors, and maintain the liquidity of the asset at the proper level. Only in this case will USAt be able to become a full-fledged alternative to USDT and other dominant stablecoins in the market.