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Bo Hines is the former Executive Director of the White House Crypto Council
Stablecoin issuer Tether, the largest company in the digital asset ecosystem, has announced the launch of USA₮, a U.S.-regulated, dollar-backed stablecoin, alongside the appointment of White House-friendly Bo Hines as Chief Executive Officer of Tether USA₮.
The unveiling marks Tether’s move to introduce a regulated version of its stablecoin in the United States, with a focus on transparent reserves, governance, and U.S.-based leadership.
Tether is already the issuer of USD₮, the world’s most widely used stablecoin, which has a market capitalisation exceeding $169 billion. USD₮ supports daily transaction volumes greater than those processed by major global payments firms and is used by almost 500 million people, particularly in emerging markets where access to traditional banking is limited.
Beyond USD₮, Tether has in recent years launched a range of other stablecoins pegged to different assets and currencies. These include EUR₮, pegged to the euro; CNH₮, pegged to the offshore Chinese yuan; MXN₮, pegged to the Mexican peso; and XAU₮, a gold-backed token representing ownership of one troy fine ounce of gold stored in Switzerland. The newly announced USA₮ expands this existing portfolio with a token specifically designed to comply with U.S. regulation.
Tether Group has also become one of the most profitable players in the industry, reporting more than $13 billion in profit in 2024 and continuing to post strong results in 2025. It is now the 18th largest holder of U.S. Treasuries, ahead of several sovereign nations.
The USA₮ token will be structured to comply with the recently enacted GENIUS Act, the U.S. legislation governing stablecoin issuance. Anchorage Digital, the first federally regulated crypto bank, will serve as the compliant issuer, while Cantor Fitzgerald has been appointed as reserve custodian and preferred primary dealer. The token will also use Hadron by Tether, the group’s tokenisation platform for real-world assets.
Bo Hines, who will lead Tether USA₮, was previously Executive Director of the White House Crypto Council. Tether stated that "His appointment underscores Tether’s commitment to launching USA₮ under U.S.-based leadership with a clear understanding of American regulatory priorities."
Paolo Ardoino, CEO, Tether
“For over a decade, Tether – as the creator of the stablecoin industry – has issued USD₮, the backbone of the digital economy, and today the U.S dollar stablecoin for hundreds of millions of underserved people living in emerging markets, proving that digital assets can deliver trust, resilience, and freedom on a global scale. Today, with the introduction of USA₮ and Bo Hines’s appointment as future CEO of Tether USA₮, we are taking the next natural step, bringing that same strength to the U.S. under a world-leading U.S.-regulatory framework. Tether is already one of the largest holders of U.S. Treasuries because we believe deeply in the enduring power of the dollar. USA₮ is our commitment to ensuring that the dollar not only remains dominant in the digital age, but thrives – through products that are more transparent, more resilient, more accessible, and more unstoppable than ever before.”
— Paolo Ardoino, CEO of Tether
Bo Hines, CEO-Designate,Tether USA₮
“I am honoured to lead USA₮ as we prepare for its launch, creating a U.S.-regulated dollar-backed stablecoin designed to strengthen America’s role in the global economy. By building USA₮ with compliance, transparency, and innovation at its core, we are ensuring that the dollar remains the foundation of trust in the digital asset space.”
— Bo Hines, CEO-Designate of Tether USA₮
USA₮ is positioned as part of Tether’s wider strategy to strengthen the U.S. dollar’s role in global finance while meeting new regulatory standards in the American market.
More details about the new US regulated stablecoin can be seen on UAST's official site here: https://usat.io/
