Tether Launches USA₮, the Federally Regulated, Dollar-Backed, Made in America \ stacker news

pull down to refresh

Tether Launches USA₮, the Federally Regulated, Dollar-Backed, Made in America tether.io/news/tether-announces-the-launch-of-usat-the-federally-regulated-dollar-backed-stablecoin-made-in-america/

510 sats \ 14 comments \ @Coinsreporter 2h news Stacker_Stocks

Tether, the largest company in the digital asset industry, today announces the official launch of USA₮, the federally regulated, dollar-backed stablecoin developed specifically to operate within the United States’ new federal stablecoin framework established under the GENIUS Act. The issuer of USA₮ is Anchorage Digital Bank, N.A., America’s first federally regulated stablecoin issuer.

view all related items

21 sats \ 9 replies \ @Scoresby 2h

There are so many US?T's at this point, it hurts.

160 sats \ 8 replies \ @Coinsreporter OP 2h

Yupp, it's getting bad to worse. However, I predict this is so ridiculous that it will be the reason for the collapse of Fiat money.

102 sats \ 6 replies \ @BlokchainB 2h

Over the long term but short term I can see people using this especially if it is open 24/7. Ach network sucks and banks close which is dumb.

But now circle has a major competitor in tether

47 sats \ 5 replies \ @Scoresby 2h

It will be interesting to see the default way people on board. Are they going to mostly be buying USAT on exchanges? If so, this turns exchanges into banks even more than it turns Tether into a bank. Also, I'm curious to see if we start seeing stables widely accepted as a payment method.

92 sats \ 1 reply \ @Coinsreporter OP 1h

USA₮ is not legal tender (as described in section 5103 of title 31, United States Code) and is not issued, backed, approved, or guaranteed by the U.S. government. USA₮ is not subject to the insurance protections of the Federal Deposit Insurance Corporation (FDIC), the Securities Investor Protection Corporation (SIPC), or any other government agency.

I don't know why they are cautious when they are federally regulated!

21 sats \ 0 replies \ @BlokchainB 39m

Protects them from lawsuits. If someone can sue they will sue

86 sats \ 2 replies \ @Coinsreporter OP 2h

I can see many exchanges have already celebrating it by listing instantly

21 sats \ 1 reply \ @BlokchainB 1h

Is it an ERC-20 token?

0 sats \ 0 replies \ @Coinsreporter OP 1h

Yes.

0 sats \ 0 replies \ @Artilektt 34m

You think so ? I see it as extending the life of fiat money. With stablecoins people can dollarize from the bottom up instead of top down. I can see it significantly extending the longevity of the dollar.

21 sats \ 2 replies \ @BlokchainB 2h

Here we go! This is why Palo came to USA!

The issuer of USA₮ is Anchorage Digital Bank, N.A., America’s first federally regulated stablecoin issuer.

Never heard of this bank

USA₮ is issued by Anchorage Digital Bank, and is available to institutions and platforms alike. USA₮ has been designed to operate within the GENIUS Act’s new federal stablecoin framework. U.S.-regulated exchanges and banking partners are being lined up to support broad access to USA₮ across the American financial ecosystem. Cantor Fitzgerald serves as the designated reserve custodian and preferred primary dealer, ensuring secure asset management and clear visibility into reserves from day one.

During the first phase of the launch, USA₮ will be available on Bybit, Crypto.com, Kraken, OKX, and Moonpay

TETHER INTRODUCES USA₮, A DOLLAR-BACKED STABLECOIN, DESIGNED FOR THE INTERNET AGE. SPEND, SEND, AND RECEIVE MONEY INSTANTLY, RIGHT FROM YOUR PHONE.
NO INTERMEDIARIES REQUIRED. PURE FREEDOM

Pure freedom 😆😆😆😆

77 sats \ 1 reply \ @Coinsreporter OP 2h

It's the so called first federally regulated Us crypto Bank!

https://www.anchorage.com/about

21 sats \ 0 replies \ @BlokchainB 2h

Anchorage Digital New York, which holds a BitLicense from the New York Department of Financial Services; and self-custody wallet Porto by Anchorage Digital.

Founded in 2017 in San Francisco, California, Anchorage Digital has offices in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota. The company is funded by leading institutions including Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa, with its Series D valuation over $3 billion.

Wow! They have a higher valuation than BitGo. Never heard of this company until today.

0 sats \ 0 replies \ @billytheked 1h

CBDC in sheep's clothing?