Tether has expanded its USAT stablecoin to the Celo network, marking the asset’s first availability beyond the Ethereum mainnet as the company seeks to broaden access to its regulated digital dollar across different blockchain ecosystems.
USAT is designed as a U.S. dollar-pegged stablecoin intended for regulated markets. The asset is issued by Anchorage Digital Bank and backed by reserves held within regulated financial institutions, with attestations used to confirm its backing.
The integration with Celo connects the stablecoin to a blockchain network known for low transaction costs and mobile-focused financial applications, potentially allowing the asset to reach a wider base of users and developers building payment solutions.
Celo has positioned itself as a network built for financial access, particularly through mobile devices. Its infrastructure supports applications focused on everyday payments, remittances, and digital financial services, making it a suitable environment for stablecoin use in real-world transactions.
The move also reflects a growing trend among stablecoin issuers to make their assets accessible across multiple blockchain networks, improving interoperability and reducing reliance on a single ecosystem.
The integration is supported by infrastructure partners including Google Cloud, which helps provide distribution and accessibility support for the asset within the network.
As part of the rollout, a system developed with ecosystem partners will enable verified users to obtain USAT through a privacy-preserving proof-of-humanity mechanism, designed to balance accessibility with regulatory requirements.
Stablecoins have become a key component of the digital asset economy, widely used for payments, remittances, and trading because they maintain a relatively stable value compared to other cryptocurrencies.
With USAT now available on Celo, Tether is positioning the regulated digital dollar for broader participation in blockchain-based financial services and payment applications.
Read also: CBN begins hands-on supervision of crypto firms with pilot programme