Tether Holdings SA is set to re-enter the US market with ambitions to become the leading stablecoin issuer in the country. Bo Hines, Tether's digital asset and US strategy advisor, announced the launch of a new token, USAT, in collaboration with Cantor Fitzgerald LP. The token is designed to offer instant settlement and cost reduction, specifically catering to the US market. Tether CEO Paolo Ardoino highlighted the company's robust distribution network, developed over 11 years, as a key advantage over competitors like Circle, which relies on partnerships for expansion. Despite Circle's recent IPO announcement, Tether has no plans to go public, citing its $13.7 billion profit last year and substantial US investments, including $775 million in Rumble Inc.