Tether’s $5.7B Profit Is Just the Beginning—Get Ready for a U.S. Stablecoin Shakeup That Could Rewrite the Rules This Q4!
Its plan for a separate U.S.-focused stablecoin offering from the USDT is part of the compliance push under the new stablecoin law, the GENIUS Act.
The Act demands 100% backing of reserve assets by Treasury bills or cash equivalents, besides the issuer being domiciled in the U.S.
That said, the planned offering could have a yield feature and target mostly institutional investors and players. In a recent Bloomberg interview, Ardoino clarified that,
“It’s (U.S. stablecoin offering) going to be focused on the US institutional markets, providing an efficient stablecoin for payments but also for interbank settlements and trading.”
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