Tether’s GENIUS Act-Compliant USAT Stablecoin Debuts on Celo, First Step Beyond Ethereum

The stablecoin market has been dominated by a handful of dollar-pegged assets running largely on Ethereum. Tether’s USAT, a newer entrant that arrived in January with built-in regulatory compliance, is now breaking that pattern.

On July 29, USAT expanded to Celo, an EVM-compatible layer-1 network focused on mobile payments, according to WuBlockchain. Issued by Anchorage Digital Bank, a federally chartered crypto bank, USAT is designed to meet the requirements of the GENIUS Act, a U.S.

legislative push to bring stablecoin issuance under a clear regulatory perimeter. The token’s total market capitalization stands at roughly $185 million.

On Celo, users can natively mint and burn USAT, and critically, they can use it directly to pay gas fees—a feature that significantly simplifies the transaction experience for non-technical users. Why Celo is More Than Just Another Chain Celo is not a casual choice.