Tether has appointed Bo Hines, the former executive director of the White House Crypto Council, to lead the launch of a new US-regulated, dollar-backed stablecoin called USA₮.
As the creator of the world’s largest stablecoin, USD₮, El Salvador-based Tether aims to enhance its presence in the crypto-friendly US market with this new offering. USA₮ will be established in accordance with the recently enacted Genius Act, providing businesses and institutions with a digital alternative to cash and traditional payment systems.
The token will utilize Tether’s Hadron technology, with Anchorage Digital serving as the Genius Act-compliant issuer. Cantor Fitzgerald will act as the designated reserve custodian and preferred primary dealer.
Tether emphasizes that Hines’s appointment reflects the company’s commitment to launching USA₮ under US-based leadership, aligned with American regulatory priorities.
Paolo Ardoino, CEO of Tether, stated, “For over a decade, Tether has been a leader in the stablecoin industry with USD₮, providing trust, resilience, and freedom to millions in emerging markets. 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 US under a world-leading regulatory framework.”