Tether Unveils its USA₮ U.S.-Regulated Dollar-Backed Stablecoin (Tether)
Tether will issue a new U.S.-regulated stablecoin called USAT, designed to comply with the GENIUS Act. The token, to be issued by Anchorage Digital and leveraging Tether’s proprietary Hadron tokenization platform, is expected to launch by year’s end and will focus on use cases distinct from Tether’s existing USDT. The move marks a major expansion of Tether’s presence in the U.S., following its recent efforts to comply with anti-money laundering and audit requirements. [Source: Tether]
Retailer Stablecoins (David Birch)
David Birch posted an article that discusses how major retailers like Walmart and Amazon are exploring issuing their own stablecoins to bypass traditional payment systems and reduce transaction fees, potentially threatening banks’ role in payments. Walmart, a key example, has already integrated real-time bank-to-bank payments via its OnePay app and is pushing for faster, instant payments to cut costs and enhance customer experience. The piece notes that retailers, with their massive scale, could benefit from lower payment processing fees and may use stablecoins or direct pay-by-bank methods, with broader adoption spurred by systems like FedNow. It also highlights retailers’ broader fintech ambitions—such as AI shopping assistants, metaverse initiatives, and enabling global transactions for small businesses—arguing these may reshape retail and loyalty. For banks, the article warns that stablecoins could draw deposit funds away, with significant consumer balances already moving to fintech accounts and app wallets, and suggests banks must shift to offering value-added services around identity and data rather than relying on shrinking transaction margins. [Source: David Birch]
Upcoming Speaking Engagements:
Stablecoin NYC 2025 (New York City on November 14-15) will be the definitive conference for exploring the future of digital money and intelligent payments. The event brings together founders, C-level executives, investors, policymakers, and developers for two immersive days of talks, panels, and networking. This be the place to be if you’re building, backing, or regulating the next wave of programmable finance. [Register here]
I produce a monthly digest of digital fiat currency (DFC) developments exclusively for the official sector (e.g., central banks, ministries of finance and international financial institution (e.g., the BIS, IMF, OECD, World Bank)) plus academics and firms that are active in the DFC space (commercial banks, technology providers, consultants, etc.). (DFCs include central bank digital currency (CBDC), stablecoins and tokenized deposits.) It goes out via email on the first business day of every month, and if you’re interested in being on the mailing list, please email me at john@kiffmeister.com.
