Tether launches USAT stablecoin on Celo blockchain as second mainnet deployment

On July 29, 2026, Tether launched its US-focused USAT stablecoin on the Celo blockchain, marking its second mainnet deployment after Ethereum. USAT supports native minting, burning, and gas fee payments on Celo. Issued by Anchorage Digital Bank and designed around the US GENIUS Act, USAT maintains reserves in cash and US Treasuries. Tether is also targeting the $11 trillion US payroll market by leading a $7 million funding round for Pact Labs to integrate USAT into employer payment systems.

USAT deployment on Celo blockchain

• ▪Celo users can pay network transaction fees with USAT using the blockchain's CIP-64 fee abstraction upgrade.
• ▪Tether launched its US-focused USAT stablecoin on the Celo blockchain on July 29, 2026, marking its second mainnet deployment after Ethereum.
• ▪USAT supports native minting and burning on Celo, reducing technical and custody risks associated with third-party bridges.

Celo stablecoin market position

• ▪Celo accounts for 28% of cross-blockchain USDT transfers and holds over 90% of the market for XAUt0, the omnichain version of Tether Gold.
• ▪Opera launched a self-custodial stablecoin wallet on Celo with Tether's support, which has reportedly reached more than 18 million users worldwide.
• ▪Tether's transparency data lists approximately $470 million in authorized USDT on Celo, making it the eighth-largest supported blockchain for USDT.
• ▪Celo's total circulating stablecoin supply is estimated near $136 million, with USDT accounting for $78.8 million, representing a 57.6% market share.

USAT regulatory structure and reserves

• ▪USAT is designed around the requirements of the US GENIUS Act and maintains reserves in cash, liquid cash equivalents, and US Treasury securities.
• ▪Anchorage Digital Bank, a federally chartered crypto bank supervised by the Office of the Comptroller of the Currency, issues the USAT token.
• ▪Tether US CEO Bo Hines previously served as executive director of the President's Council of Advisers on Digital Assets from January through August 2025.

Pact Labs payroll integration strategy

• ▪Pact Labs plans to let businesses process wages through blockchain payment rails, targeting a US payroll market that processes over $11 trillion annually.
• ▪Tether led a $7 million Series A funding round for Pact Labs alongside Blockchange Ventures and Lasagna to expand USAT into US payroll payments.
• ▪Celo transitioned from a Layer 1 blockchain in 2020 to an Ethereum Layer 2 built on the OP Stack in March 2025.