Tether's U.S.-focused stablecoin scales up over 500% in a month, but still lags main rivals
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
★ Tier-1 Source
Stablecoin giant Tether's U.S.-focused digital dollar token USAT (USAT) expanded more than sixfold month-over-month in April, it still lags far behind its rivals.
Key facts
- Circle's USDC token has a market capitalization of roughly $76 billion, while PYUSD $ 0.9995, issued by Paxos, stands at about $5.5 billion
- According to the latest reserve report signed by Deloitte and published Thursday, the token's circulating supply hit $140.8 million as of April 30, up from $22 million in March and posting a 540%
- Tether's flagship stablecoin, USDT, remains the largest U.S. dollar-pegged token globally with a market capitalization near $189 billion
- The stablecoin market has grown past $300 billion in value as the sector is becoming increasingly embedded into global finance and payment rails
Summary
Tether’s U.S.-focused stablecoin USAT grew more than sixfold in April to $140.8 million, the token's latest reserve report shows. Tether USAT's chief executive said the surge reflects growing institutional use for treasury management, settlements and regulated dollar liquidity. Launched in January, USAT remains far smaller than its rivals targeting U.S. customers, including Circle's $76 billion USDC, PayPal's $5.5 billion PYUSD and Ripple's $1.7 billion RLUSD. According to the latest reserve report signed by Deloitte and published Thursday, the token's circulating supply hit $140.8 million as of April 30, up from $22 million in March and posting a 540% growth in a month.