Utexo Secures License to Issue USDT on Bitcoin, Bringing Stablecoin Home

Tether-backed Utexo has secured a license to issue USDT on the Bitcoin network, marking a significant return to the stablecoin's original ecosystem. This development enables users to send USDT privately, swap the stablecoin directly with BTC, and borrow against Bitcoin without wrapping the underlying asset. The Utexo approach centers the activity on Bitcoin itself, unlike wrapped assets that represent an asset from one blockchain in a form that can operate on another network.

USDT originally launched on the Bitcoin network in 2014, but it subsequently expanded primarily across Ethereum and Tron. The new license provides the regulatory or operational basis for Utexo to issue USDT on Bitcoin, although the exact launch date is not specified. The functions outlined in the announcement focus on interactions between the stablecoin and Bitcoin, combining stablecoin functionality with Bitcoin-based transactions and financial activity.