Tether, the cryptocurrency company behind the world's largest stablecoin USDT, aims to reach 100 million American users with its new digital dollar project called USAT, developed specifically for the US market.
Company CEO Paolo Ardoino announced today that the stablecoin will be launched in December.
According to Ardoino, the USAT token was designed to comply with the GENIUS Act and comply with US federal regulations. The token will be issued by a new initiative called Tether America, a partnership between Tether and US-based regulated cryptocurrency bank Anchorage Digital.
At the center of Tether's USAT distribution strategy is Rumble (RUM), the video-sharing platform in which it invested $775 million last year. Ardoino stated that with Rumble's upcoming crypto wallet, the platform's 51 million active monthly users in the US will be able to integrate with USAT tokens.
“We are investing in two or three more companies to increase this number from 51 million to 100 million,” Ardoino said, adding that the targeted companies could be social media or content-sharing platforms, without naming them.
*This is not investment advice.
