Tether executive: The company is returning to the US market, aiming to become the dominant stablecoin issuer in the country.

ChainCatcher News, according to Bloomberg, Bo Hines, Tether Holdings SA's digital asset and US strategic advisor, stated that Tether is returning to the US market with the goal of becoming the country's dominant stablecoin issuer, replicating its overseas success.

Last week, Tether announced a new token plan, USAT, led by Hines and launched in cooperation with Cantor Fitzgerald LP and others. The aim is to provide instant settlement and reduce costs, specifically tailored for the US market. Tether CEO Paolo Ardoino said the company's advantage lies in the distribution network built over the past 11 years, while competitor Circle has expanded its business through revenue sharing with certain exchanges.

Ardoino stated that Tether does not need to rent distribution channels as it owns its own. Although Circle has made a high-profile announcement about going public, Tether has no intention of following suit, as the company made a profit of $13.7 billions last year and does not need to raise funds. Instead, it plans to invest in business development by building new distribution channels, and has already invested $5 billions in the US, including a $775 million investment in Rumble Inc.