New York– Tether, the issuer behind the world’s largest stablecoin USDT, is preparing to enter the United States market with a new domestically-compliant digital dollar. This strategic move comes as American lawmakers push forward with new legislation that would regulate stablecoins at the federal level.
In a recent statement, Tether CEO Paolo Ardoino confirmed the company is actively exploring the launch of a separate stablecoin specifically designed for U.S. users. While USDT will continue serving its core audience in emerging economies, the new coin would target U.S. consumers and institutions under a different regulatory framework.
“We are closely watching the progress of the GENIUS Act,” Ardoino said, referring to the Guiding and Establishing National Innovation for U.S. Stablecoins Act. “If passed, it would provide the clarity needed for us to roll out a compliant product for the domestic market.”
A Two-Tier Strategy for Global and U.S. Markets
Tether has long emphasized its role in financial inclusion, with USDT becoming a digital lifeline for millions of unbanked individuals across Asia, Africa, and Latin America. According to company data, over 420 million users rely on the stablecoin to send remittances and protect their savings against local currency devaluation.
“Our mission with USDT remains unchanged—it’s the most-used digital dollar in regions where stable money matters most,” Ardoino explained.
However, the U.S. market presents a different challenge. With a well-established banking infrastructure and broad access to digital payments, stablecoin adoption must cater to different expectations—faster payments, institutional compliance, and integration with legacy finance systems.
To that end, the new U.S. stablecoin will come with a distinct feature set tailored for domestic users. Tether is reportedly working to align with requirements outlined in the GENIUS Act, which includes full reserve backing with liquid assets such as U.S. Treasury securities and cash equivalents.
Regulatory Readiness and Transparency
Ardoino also revealed that Tether is preparing for deeper regulatory scrutiny. The company has begun discussions with a major global accounting firm to conduct a full-scale audit of its reserves—marking a shift from its previous practice of quarterly attestations.
“We want to set the standard for transparency in the stablecoin industry,” he said.
The move to bring in an external auditor and appoint a new Chief Financial Officer, Simon McWilliams, is seen as part of Tether’s broader push to gain trust from U.S. regulators and financial institutions.
While some American banks are exploring consortium-backed stablecoins, Ardoino downplayed the competitive threat, noting that most traditional banking initiatives are Western-centric and fail to address the financial needs of underserved populations worldwide.
GENIUS Act: A Path Forward
The GENIUS Act, which is gaining bipartisan traction in Congress, could create the most comprehensive stablecoin regulation to date. Unlike Europe’s MiCA framework—which Tether criticized for requiring dollar-based reserves to be held in European banks—the U.S. proposal mandates full backing with U.S.-based assets.
“Tether is getting comfortable with the GENIUS Act,” Ardoino added. “We think it’s a sensible approach and far more aligned with market realities.”
He emphasized that the company will not move forward with the U.S. stablecoin launch until there’s legal certainty, suggesting a rollout could happen in the second half of 2025 if the bill becomes law.
Stablecoin Market Grows Past $240 Billion
With the global stablecoin market now valued at over $240 billion and growing, Tether’s move comes at a pivotal time. While competitors position themselves for regulatory compliance, Tether continues to dominate market share, accounting for over 60% of global stablecoin transaction volume.
If the GENIUS Act passes and Tether proceeds with its U.S. launch, the company could expand its footprint while maintaining its leadership across developing nations.
“Our global mission remains strong,” Ardoino said, “but we also recognize the value of being present in the United States under the right conditions.”