PANews reported on September 12th that Tether announced its planned launch of USAT, a US-regulated, dollar-backed stablecoin , and announced the appointment of Bo Hines as the future CEO of Tether USAT. USAT will be designed to comply with the recently enacted GENIUS Act. USAT will utilize Tether's Hadron technology, and Anchorage Digital will serve as the GENIUS Act-compliant issuer. The two parties will collaborate to provide Tether USAT with a solution for issuing a fully regulated digital dollar. The new token will leverage Tether Group's global distribution network. Cantor Fitzgerald will serve as the designated reserve custodian and a preferred primary dealer.
Bo Hines brings legal, business, and policy expertise to the role of USAT CEO. As an entrepreneur and former Executive Director of the White House Cryptocurrency Commission, he has been active at the intersection of governance, law, and financial innovation. His appointment underscores Tether's commitment to launching USAT under U.S. leadership and a clear understanding of U.S. regulatory priorities.