Tether reveals new stablecoin, appoints Bo Hines to lead U.S. business
The world’s largest stablecoin, Tether.
Justin Tallis | AFP through Getty Images
Tether, the biggest stablecoin’s exporter, has chosen a CEO for the US business and is launching a new coin for US institutions.
Movements emphasize that Tether’s commitment to the regulatory participation and the entry of the United States was accused of once a criminal being a “crypto currency”.
Bo Hines, who chaired the presidency of digital asset consultants, was appointed as Tether Us CEO in August and joined Tether as a consultant after a month in the White House.
The company is also launching a coin called USAT in the United States under the Genius law. During USD TETHER (USDT) The new Jeton, which serves global markets, is designed for businesses and institutions operating under a US regulatory framework.
“For more than a decade, as the creator of the Stablecoin industry, USDT, the backbone of the digital economy, and today, the US dollar proved that it could provide freedom and freedom on a global scale, global scale for people who have been inadequate in digital markets.” He said.
The USDT was created in 2014 to be fixed to the value of the US dollar and became the only stablecoin on the market for years before alternatives in the USA. Circle USDC Cropped. Despite discussions and regulatory examination over the years, it remained the most popular and dominant stablecoin – due to the widespread adoption and liquidity of the first carrier advantage.
Despite Tether’s lack of assets in the United States, the company claimed that USDT has been strengthening the US dollar by allowing USDT to access people around the world through Stablecoin. It also deposits a significant portion of its reserves to the US treasury bonds.
Treasury Secretary Scott Bessent, the White House Crypto Summit, “the US will keep the dominant reserve currency in the world and we will use Stablecoins to do so” said in the beginning of this year.
According to Cryptoquant, Stablecoins’ market value grew approximately 34% this year.
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