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USA₮ is a USD-backed stablecoin developed by Tether, designed for the internet age, allowing for instant spending, transfers, and receipts.
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Tether’s stablecoin USAT saw a nearly 540% month-on-month increase in circulation in April.
According to The Block, Tether’s stablecoin USAT saw its circulating supply rise to over 140 million tokens in April—a nearly 540% increase from approximately 22 million tokens in March. During the same period, its total reserves increased to $141,178,400, exceeding the outstanding token supply by $327,450. Launched in January this year and issued by Anchorage Digital Bank, USAT is designed to comply with the GENIUS Act’s 1:1 reserve requirement. The latest attestation shows that its reserves consist of $13,427,400 in cash and $127,751,000 in reverse repurchase agreements collateralized by U.S. Treasury securities.
AnchorageDigital Submits Comment Letter on GENIUS Act, Plans to Issue Stablecoin UDSPT with Western Union
Odaily Odaily has learned that AnchorageDigital Bank has submitted a comment letter regarding the U.S. Office of the Comptroller of the Currency's proposed rulemaking on the GENIUS Act. The company has already issued three stablecoins for multiple partners, including USAT in collaboration with Tether, USDGO with OSL Group, and USDtb with Ethena. AnchorageDigital stated that it plans to jointly issue a fourth stablecoin, UDSPT, with Western Union in the near future, and expects to officially become a licensed payment stablecoin issuer after the GENIUS Act takes effect.