Tether is planning to launch a new dollar stablecoin

Tether, the company behind the leading stablecoin USDT, is considering launching a new US dollar-backed stablecoin specifically for institutional investors. CEO Paolo Ardoino announced this plan as US lawmakers progress with legislation aimed at regulating stablecoin issuers and creating a more transparent framework.

Unlike Tether's existing stablecoins, this new offering will be tailored to meet the specific requirements of large institutions and legal entities. This development comes as two significant stablecoin bills are moving forward in the US Congress, with President Trump encouraging lawmakers to approve legislation as early as August. In related news, Tether is also pursuing a comprehensive audit of its financial holdings by a prominent auditing firm.