USAT Breaks Away from Ethereum on Celo

Tether's USAT stablecoin has expanded beyond Ethereum to the Celo network. Launched on July 29, this move positions USAT as a viable alternative for regulated stablecoins. With a total market capitalization of around $185 million, USAT is designed to meet the requirements of the GENIUS Act, a U.S. legislative push to bring stablecoin issuance under clear regulatory oversight.

Celo's network focuses on mobile payments and has attracted projects targeting emerging markets with its lightweight client and address-to-phone mapping features. By selecting Celo for USAT's first post-Ethereum deployment, Tether is aligning itself with a chain that prioritizes real-world payments over speculative DeFi-centric use cases.

The ability to pay transaction fees in USAT without holding a separate CELO token simplifies the user experience and lowers barriers for those who only want to move dollars. This decision also benefits developers building payment-focused dApps by eliminating the complexity of managing secondary fee tokens.