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The head of Tether confirmed plans to launch USDT in the US market.
The head of Tether confirmed plans to launch USDT in the US market
Tether plans to obtain the status of a foreign stablecoin issuer in the USA, according to the requirements of the GENIUS Act. This was stated by the company's CEO Paolo Ardoino in an interview with CoinDesk.
On July 18, President Donald Trump signed a bill regulating "stablecoins."
Tether is counting on a simple "adjustment"
For Tether, compliance with its standards implies the introduction of a new audit regime and changes to the structure of USDT reserves. According to Ardoino, the $13 billion in net profit the company made last year allows for the necessary "adjustments."
He confirmed that the CFO appointed in March, Simon McWilliams, is working on attracting a "Big Four" auditor for collaboration.
Ardoino estimated the time to enter the US market at three years. At the same time, the company intends to additionally release a version of USDT specifically aimed at the United States and institutional investors.
Therefore, the new product will be "focused on payments and very high efficiency," specified the top manager.
In May, Ardoino suggested that the company might launch an "American stablecoin" as early as the beginning of 2026. At that time, he also confirmed that the main business interests of the USDT issuer remain outside the United States.
According to the assessment published in February by JPMorgan analysts, only 66%-83% of USDT reserves meet the requirements of the GENIUS Act. To comply with regulatory requirements, the issuer will have to get rid of bitcoins, corporate bonds, and secured loans in favor of US government bonds and other highly liquid assets, concluded the experts.
Ardoino then assured that adapting to the rules would be "easy" for the company.
After the MiCA regulation came into effect in the EU, Tether focused on supporting third-party regulated stablecoin projects using its Hadron platform.
Circle's CEO is confident in full compliance with the new regulations
Jeremy Allaire, co-founder and CEO of Circle, which stands behind USDC, stated in an interview with CoinDesk that the adoption of the GENIUS Act "legally enshrines the company's approach to doing business."
In his opinion, the situation in the stablecoin segment in the USA was rapidly changing even before the approval of new regulations. A number of "large technology companies, trading firms, and financial institutions" showed interest in entering the market.
The GENIUS Act will come into effect six months after being signed by Trump or 120 days from the date of publication of the regulations by the regulators.
Recall that in February, the heads of Circle and Tether presented different views on the legislation regarding stablecoins being developed in the USA. One of the companies in the community was suspected of lobbying for its own interests.