Celo Integrates Tether's USAT Stablecoin with Native Minting Support

Celo has expanded its ecosystem by adding native support for USAT, a US dollar stablecoin backed by Tether. This makes Celo the second network after Ethereum to host native USAT.

The deployment includes several features from launch, including native minting and redemption, as well as the ability to use USAT as a gas currency for transactions. Issued by Anchorage Digital Bank, USAT is backed by reserves custodied by Cantor Fitzgerald and designed to comply with the requirements of the GENIUS Act.

Celo's gas payment model removes a common crypto onboarding hurdle by allowing users to pay fees with stablecoins rather than requiring a separate blockchain token. This feature has already driven stablecoin-based gas payments, with more than 50% of Celo fees paid using stablecoins.