Tether, the company behind the world’s largest stablecoin, is actively laying the groundwork for its U.S. market strategy, with plans to introduce a new stablecoin tailored for institutional use. The move comes on the heels of the newly signed GENIUS Act, a U.S. law establishing a regulatory framework for stablecoins.
In an interview with Bloomberg Television on Wednesday, Tether CEO Paolo Ardoino confirmed that the company’s U.S. rollout is “well underway,” adding that a formal announcement outlining the firm's strategy is expected in the coming months.
“We are well in progress of establishing our U.S. domestic strategy,” Ardoino said. “We plan to announce it in the next couple of months.”
The new U.S.-based stablecoin will be aimed specifically at institutional clients, offering faster settlement options compared to existing alternatives. Tether’s flagship token, USDT, remains dominant in the global market with a total capitalization of $162 billion, but the firm is now positioning itself to compete on U.S. soil under a tighter regulatory spotlight.
Tether’s expansion comes amid increased regulatory pressure. The GENIUS Act, signed into law by President Donald Trump last week, requires stablecoin issuers with more than $50 billion in market cap to undergo annual audits, maintain full backing in U.S. dollars or similar liquid assets, and adhere to strict transparency and foreign issuance rules. Ardoino was present at the signing of the bill in Washington, underscoring Tether’s commitment to aligning with the new framework.
The company has historically faced scrutiny for not conducting a full independent audit of its reserves, instead publishing quarterly attestations through BDO Italia. In a bid to change that, Tether recently appointed Simon McWilliams as CFO to lead the charge toward securing a Big Four audit—a move Ardoino has labeled a top priority.
As Tether prepares to enter the U.S. market, it faces stiff competition from a new wave of players. Major financial institutions including JPMorgan, Bank of America, Citigroup, and Wells Fargo—some through joint ventures—are developing their own stablecoins. Still, Ardoino believes Tether holds a technological edge.
“They can compete and be probably maybe, maybe, better than us in the short term in the United States just because it’s a new market for us,” he told Bloomberg. “But we have better technology. We have a much better understanding of this market than anyone else.”
When asked whether Tether intends to go public like its rival Circle, Ardoino dismissed the idea, stating the company has no plans to pursue a public listing.
