Tether Launches US-Regulated Stablecoin USAT Amidst Bank Deposit Flight Concerns

Tether has officially launched USAT, its first federally regulated U.S. stablecoin, issued by Anchorage Digital Bank. This move, compliant with the new GENIUS Act, aims to cater to American users and institutions. However, the introduction of USAT coincides with a warning from Standard Chartered that stablecoins could potentially siphon up to $100 billion from U.S. bank deposits as the digital asset market continues its rapid expansion.