Tether's USAT stablecoin expands to Celo, its first network beyond Ethereum
DeFi & Yields ·
The GENIUS Act-compliant token now supports native minting, burning, and gas-fee payments on its second mainnet deployment.
Tether's USAT stablecoin has launched on Celo, marking the token's second mainnet deployment after its original rollout on Ethereum, according to wublockchain.xyz. The stablecoin is issued by Anchorage Digital Bank and was designed to comply with the GENIUS Act, a framework governing stablecoin issuance in the United States.
On Celo, USAT supports native minting and burning rather than relying on a bridged or wrapped version of the token. Users on the network can also pay gas fees directly in USAT, a functionality that ties the stablecoin more closely into the chain's transaction layer rather than treating it as a purely external asset.
USAT launched in January and currently carries a market capitalization of approximately $185 million, per wublockchain.xyz. The Celo deployment represents the stablecoin's first expansion beyond its home chain, a step that theblock.co also confirmed in its coverage of the launch.
The move is being tracked across multiple outlets, with three distinct sources corroborating the Celo rollout and its core features, including gas-fee payment support and the native mint-and-burn mechanism. That level of independent confirmation suggests the launch is being treated as a notable expansion step for USAT rather than a minor technical update.
What remains unclear is how USAT's market capitalization will shift now that it operates across two chains, and whether Tether plans further deployments beyond Celo and Ethereum. Also unaddressed in current reporting is how the GENIUS Act compliance framework applies specifically to a multi-chain issuance model, an issue likely to draw scrutiny as the stablecoin's footprint grows.