27 Jan What is USAT (USAt)?
in Education
USAt is a US-regulated, dollar-backed stablecoin created by Tether specifically for the American market. Issued by Anchorage Digital Bank — the first and only federally chartered crypto bank — with reserves managed by Cantor Fitzgerald, USAt maintains a 1:1 peg to the US dollar fully backed by high-quality liquid reserves.
Built specifically for businesses, creators, institutions and consumers, USAt aims to become the foundational rail for the next generation of American commerce, trade and finance, setting a new benchmark for compliance and accessibility for the US stablecoin industry.
US Banking and Regulatory Oversight
First unveiled in September 2025, USAt is issued by Anchorage Digital Bank, N.A., which operates under direct federal oversight from the Office of the Comptroller of the Currency (OCC). As a federally chartered bank, Anchorage Digital Bank is subject to regular examinations, strict capital and reserve requirements, as well as comprehensive anti-money laundering (AML) and know-your-customer (KYC) obligations.
Cantor Fitzgerald, a leading US financial services firm, acts as reserve custodian and preferred primary dealer, supporting the management of USAt’s reserves. All USAt tokens are backed 1:1 by liquid assets, providing high levels of transparency and confidence for market participants.
USAt leverages the advanced real-world asset tokenisation platform Hadron by Tether to support issuance, redemption and on-chain transfer across multiple blockchain networks. The stablecoin is subject to monthly public reserve disclosures, reinforcing transparency for users and counterparties.
USAt is explicitly marketed and structured as a private digital asset, not government-issued currency, while maintaining the operational capability to respond to lawful regulatory and compliance requirements.
USAt vs. USDt
USAt and USDt are complementary stablecoins designed for different markets.
USDt is Tether’s global flagship product and the world’s most widely used stablecoin, with a market cap of over $186 billion. It plays a central role in global digital asset markets, particularly in emerging markets, and serves as a primary trading and settlement asset across hundreds of exchanges.
USAt, by contrast, is purpose-built for the US market. Issued by a federally chartered US bank and operating under direct federal oversight, USAt is designed for American institutions, businesses, and consumers seeking a dollar-backed stablecoin aligned with US regulatory and banking frameworks.
USAt’s distribution strategy includes both institutional adoption and consumer-facing partnerships. A key element of its mainstream reach is Tether’s $775 million strategic investment in Rumble (RUM), the video-sharing platform with 51 million active monthly US users. Through Rumble’s recently-launched crypto wallet and similar platforms, USAt aims to enable direct payments to creators and everyday Americans, with Tether targeting 100 million American users across institutional and retail channels.
Together, USAt and USDt extend Tether’s stablecoin ecosystem across both domestic and international markets, each optimised for its respective regulatory and operational environment.
Important Notice:
USAt is not legal tender and is not issued, backed, approved or guaranteed by the US government. USAt is not subject to the insurance protections of the Federal Deposit Insurance Corporation (FDIC), the Securities Investor Protection Corporation (SIPC) or any other government agency.
How to Buy USAt on Bitfinex
How to Buy USAt with Crypto
1. Log in to your Bitfinex account or sign up to create one.
2. Go to the Deposit page.
3. In the Cryptocurrencies section, choose the crypto you plan to buy USAt with and generate a deposit address on the Exchange wallet.
4. Send the crypto to the generated deposit address.
5. Once the funds arrive in your wallet, you can trade them for USAt. Learn how to trade on Bitfinex here.
How to Buy USAt with Fiat
1. Log in to your Bitfinex account or sign up to create one.
2. You need to get full verification to be able to deposit fiat to your Bitfinex account. Learn about different verification levels here.
3. On the Deposit page, under the Bank Wire menu, choose the fiat currency of your deposit. There’s a minimum amount for fiat deposits on Bitfinex; learn more here.
4. Check your Bitfinex registered email for the wire details.
5. Send the funds.
6. Once the funds arrive in your wallet, you can use them to buy USAt.
Also, we have Bitfinex on mobile, so you can easily buy USAt while on-the-go.
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