Tether’s USAT stablecoin launches on Celo blockchain

Tether’s USAT stablecoin is now live on Celo, enabling native minting, burning, and fee payments, and targeting Celo’s mobile-first users in emerging markets.

Tether has launched its USAT stablecoin on the Celo blockchain, marking its first expansion beyond Ethereum. USAT is fully compliant with U.S. regulatory frameworks and is backed 1:1 by U.S. dollars. This integration allows users to mint and burn USAT directly on Celo, enabling seamless creation and redemption of tokens within the network. A key feature is the ability to pay transaction fees with USAT, thanks to Celo’s gas abstraction technology. This removes the need for users to hold CELO for basic transfers, simplifying the user experience, especially for Celo’s large mobile-first audience in emerging markets. USAT is issued by Anchorage Digital Bank, with transparent reserves and regular attestations. With a current market capitalization of about $185 million, this move strengthens Celo’s position in stablecoin payments and DeFi, while supporting Tether’s strategy to diversify its offerings and expand into fast, low-cost payment networks.