Tether plans to launch new US stablecoin, CEO says

(Reuters) -Tether, the creator of the world’s largest stablecoin, plans to launch a U.S.-based stablecoin designed for U.S. residents, called USAT, the company’s CEO Paolo Ardoino said on Friday.

Former White House official Bo Hines will be the CEO of the new venture, Ardoino said at a press conference in New York.

(Reporting by Hannah Lang in New York, editing by Pete Schroeder)