Tether has unveiled plans to launch a stablecoin for the US as the highly-profitable crypto company seeks to exploit new rules in America to expand into the world’s largest capital market.
Tether, which already runs the most traded cryptocurrency in the world, USDT, on Friday said it will launch a new, “fully regulated” stablecoin that will be based in the US and open to domestic customers by the end of this year.
Stablecoins, a form of digital cash outside the regulated banking system, have become a crucial link between traditional markets and digital assets. Usually pegged one for one against the US dollar, there are around $280bn in circulation globally.
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