Tether Launches USAT, Targets $1 Trillion in US Market
Tether, the issuer of the world's largest stablecoin, USDT, is expanding into the US stock market today with its new stablecoin, USAT. The company projects USAT to reach a market capitalization of $1 trillion within three to five years.
Tether CEO Paolo Ardoino bases this projection on the expansion rate of USDT. The company's dominance in the stablecoin sector, with USDT maintaining the largest global market share, provides a solid foundation for USAT's growth.
Anchorage Digital Bank, a state-chartered us bank, will issue USAT. The bank, a subsidiary of Anchorage Digital, will operate from Charlotte, North Carolina, targeting American investors. Anchorage Digital CEO Nathan McCauley playfully suggests USAT could even reach 'trillions' in market capitalization.
Tether plans to leverage Rumble's 51 million monthly active users to boost USAT adoption. Rumble is set to launch its own crypto wallet later this year. The favorable US regulatory landscape is also seen as a significant growth opportunity for compliant stablecoin products like USAT.
Tether's expansion into the US stock market today with USAT is projected to reach a $1 trillion market capitalization within three to five years. The company's plans to leverage Rumble's user base and the favorable US regulatory environment indicate a promising future for USAT.
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