A Critical Move for Tether’s Regulation-Compliant Stablecoin USAT: For the First Time on This Network After Ethereum
Tether’s US regulation-compliant stablecoin, USAT, is expanding its ecosystem by launching on the Celo (CELO) network for the first time following Ethereum.
Crypto giant Tether has taken a significant step as part of its regulation-compliant strategy. The USAT stablecoin, developed by the company in accordance with the GENIUS Act, has officially launched on the Celo network, its first destination outside of Ethereum. This move is not just a network expansion but also brings technical features that will fundamentally change the user experience.
One of the greatest advantages offered by the Celo network, gas fee abstraction (CIP-64), provides significant convenience in USAT transactions. Thanks to this feature, users do not have to keep a different native token in their wallets to pay for transaction fees on the network. Being able to pay gas fees directly with USAT eliminates complex processes, especially for new users, and accelerates the adoption of regulated stablecoins in daily life.
A New Era in Celo and Tether Collaboration
Tether US CEO Bo Hines emphasized that the choice of Celo was a conscious decision, stating that USAT should be present on platforms where digital dollars are already heavily used. Celo stands out with a 28% share in transfers of Tether’s flagship USDT. Furthermore, the wallet solution launched by the Opera browser on Celo has reached more than 18 million users, proving the network’s distribution power and potential.
As of now, USAT, which has a market cap of approximately $185 million, is issued by the federally licensed Anchorage Digital Bank. Regulated by the US Office of the Comptroller of the Currency (OCC), this asset is backed 1-1 by high-quality liquid assets such as cash or Treasury bills. While still at the beginning of its journey compared to USDT’s massive $180 billion volume, USAT offers a secure alternative for institutional and individual users through its regulatory compliance.