USAT, the US-regulated dollar stablecoin backed 1:1 by US dollars, launched on the Celo blockchain on March 31, marking its first expansion beyond Ethereum. The deployment includes native minting and burning capabilities, along with planned gas fee payment support pending Celo governance approval. Tether invested $100 million in Anchorage Digital Bank in February 2026, valuing the federally chartered US crypto bank at approximately $4.2 billion. Celo already hosts over 4.2 million weekly active USDT users, primarily in Africa and Latin America through partnerships like Opera MiniPay which counts over 14 million users. This expansion targets mobile-first users in emerging markets, competing against Circle’s aggressive multi-chain USDC expansion and PayPal’s PYUSD multi-chain strategy.
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