Tether plans to relaunch USDT on the Bitcoin network in October 2026 through the Utexo project, offering private transfers, direct BTC-USDT swaps, and Bitcoin-backed loans. Utexo, founded in 2025 and holding a commercial license from Tether, raised $7.5 million in early 2026 and relies on the RGB protocol and Bitcoin’s UTXO model. Over 450 businesses, including exchanges and wallets, have already expressed interest, although discussions with Morgan Stanley remain unconfirmed. USDT was initially launched on Bitcoin via Omni Layer in 2014 before Tether moved most operations to Ethereum and Tron due to lower fees.
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