Tether announced a new dollar supported by Stablecoin and said former White House counsel Bo Hines would be the CEO of Tether Usat.
The new stablecoin will be consistent with reserve requirements and compliance standards Genius Stablecoin Bill has recently passedand will use Tether’s Hadron real-world asset tokenization platform, according to a Friday announcement.
Stablecoins recently crossed $ 270 billion milestone, according to Rwa.xyz. Tether CEO Paolo Ardoino said:
“Tether is one of the largest holders of US wealth because we believe deeply in the endless power of the dollar. USA ₮ Our promise to ensure that the dollar not only remains dominant in the digital age, but has evolved.”
Stablecoins has become a geostrategic policy issue for the administration of US President Donald Trump and has quickly focused on other countries such as China.
Related: Race for Global Stablecoin Rail
Bo Hines joins Stablecoin breed
Bo hines Resign from the White House Crypto Council In August, his return to the private sector.
Hines made the announcements days after the White House released the American leadership strengthening in digital financial technology Reportoutlining the future of crypto policy in the US, which includes an entire section on stablecoins and payment.
In March, US Secretary of Treasury said Scott Bessent that Stablecoins is a tool for the US Keep the dollar hegemony By making the dollar easier to access by digital metals.
Overcollateralized Stablecoins have purchased government debt that releases underlying fiat currencies for their digital tokens.
It allows the government to be more leeway to pillow the effects of inflation by spreading money on more holders to meet increased demand.
Stablecoin new regulations in Hong Kong attract a host of banks and financial institutions to want Issuing Yuan-Back Stablecoins.
A senior adviser to Russian President Vladimir Putin recently accused the US government of Using stablecoins to reduce its debt.
Magazine: Stablecoins in Japan and China, India Mulls Crypto Tax Change: Asia Express
