Tether’s USAT Grows Rapidly in US but Still Trails Rival Stablecoins
Summary
- Tether’s US-focused, regulation-compliant stablecoin USAT posted roughly 540%% growth in market capitalization over one month, reaching about $140 million in April.
- The report said USAT reserves, based on a Deloitte audit, rose to about $141.2 million in April from roughly $22.2 million in March, though the token still trails rival stablecoins in scale.
- The market is watching whether regulatory compliance and reserve transparency, alongside US stablecoin regulation discussions, will become key factors shaping future competition in the stablecoin market.
Forecast Trend Report by Period
Tether’s US-focused, regulation-compliant stablecoin USAT is growing rapidly, but its market share remains limited versus rivals, an analysis found. The market is closely watching intensifying competition in the US stablecoin sector.
CoinDesk reported on May 28 that USAT’s market capitalization climbed to about $140 million in April. That was up about 540% from a month earlier.
USAT reserves, based on a Deloitte audit, also increased to about $141.2 million in April from roughly $22.2 million in March, according to the report.
Still, USAT remains far smaller than rival stablecoins such as Circle’s USDC, PayPal’s PYUSD and Ripple’s RLUSD, CoinDesk said.
In the US, debate over stablecoin regulation has recently picked up as global fintech and financial firms expand their push into the market. Market participants are focused on whether regulatory compliance and reserve transparency will become key factors in the next phase of stablecoin competition.
