Tether's New Stablecoin USAT Targets U.S. Market

Tether, the company behind the world's largest stablecoin, announced plans to introduce a new U.S.-based stablecoin named USAT, tailored for American residents. The move signifies Tether's expansion into the U.S. market.

This initiative will be led by former White House official Bo Hines, who has been appointed as the CEO of the new venture.

The announcement was made by Tether's CEO Paolo Ardoino during a press conference held in New York on Friday.

(With inputs from agencies.)