USA₮ Stablecoin Lands on Celo Mainnet with $185 Million Market Cap
Tether's compliant stablecoin USA₮ has made its second mainnet debut after Ethereum, this time on Celo. The stablecoin was issued by Anchorage Digital Bank and can be minted and redeemed natively on Celo. Additionally, it can be used to pay gas fees directly on-chain due to Celo's fee abstraction mechanism.
USA₮ launched in January of this year and has a market capitalization of approximately $185 million. This new deployment is a significant development for the stablecoin, which has been gaining traction since its launch.