Bullish
USAT Launches on Celo, Marking Second Mainnet Deployment After Ethereum
2026-07-29 22:11:49
Tether's GENIUS Act-compliant USAT expands to Celo, enabling native minting and gas payments. The token holds an $185M market cap with 1:1 reserves.
Woofun AI reports that Tether’s compliant stablecoin USAT has been deployed on the Celo network, marking its second mainnet launch after Ethereum. The integration supports native token creation and destruction, alongside direct gas fee payments using USAT. Bo Hines, CEO of Tether US, noted that Celo facilitates daily transactions for hundreds of thousands of users. Issued by OCC-regulated Anchorage Digital Bank, USAT maintains 1:1 reserves in cash and U.S. Treasury bonds, with a current market capitalization of approximately $185 million. Tether data indicates Celo is now the largest distribution network for USDT, handling 28% of all cross-chain transfers.
WOOFUN AI
Impact Assessment · Quick Read
The expansion of USAT to Celo highlights Tether's strategy to integrate compliant stablecoins into high-utility networks. By leveraging Celo's existing user base for daily transactions, USAT may gain traction as a functional medium of exchange rather than just a store of value. The significant share of USDT volume on Celo suggests strong demand for stablecoin infrastructure on this chain, potentially benefiting related assets through increased liquidity and usage.
Generated by WOOFUN AI · For reference only, not investment advice
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