USAT Goes Live on Celo as Second Mainnet Deployment

Tether's US-focused stablecoin, USAT, has launched on Celo, marking its second mainnet deployment after Ethereum. The launch extends the token to a network widely used for digital-dollar payments.

Celo users can now pay network gas fees with USAT through the blockchain's CIP-64 fee abstraction, and native minting and burning are supported on the platform. This reduces the need to move tokens through third-party bridges, which can introduce technical and custody risks.

USAT has reached a market capitalization of about $185 million since launching in January and is targeted at regulated dollar payments in the US. Tether recently led a $7 million Pact Labs round to expand USAT into US payroll payments.