Tether's USAT Stablecoin Launches on Celo with Native Minting and Gas Fee Support

Tether has launched its US-focused stablecoin USAT on the Celo blockchain. This marks the second mainnet deployment of USAT, following Ethereum. The launch includes native minting and burning capabilities on Celo, reducing reliance on bridges. Users can also pay transaction fees using USAT via Celo's CIP-64 upgrade.

USAT has a market cap of around $185 million and is designed for regulated US dollar payments. It is expanding into the $11 trillion US payroll market through a $7 million funding round led by Tether. Celo's low fees and mobile-friendly design make it an attractive choice for scaling digital dollar payments.