Tether is turning to video streaming platform Rumble to roll out USAT, its newly launched U.S.-regulated stablecoin, as part of its return to the American market.
Summary
- Tether is looking to use Rumble’s 51 million monthly active users to promote adoption of its new USAT stablecoin.
- CEO Paolo Ardoino says Rumble will launch a crypto wallet later this year featuring USAT and other tokens.
- The push comes as part of the stablecoin issuer’s re-entry into the U.S. market, supported by new stablecoin regulations under the GENIUS Act.
Tether, the world’s largest stablecoin issuer, has revealed plans to capitalize on the user base of video streaming platform Rumble to drive adoption of its new U.S.-regulated stablecoin, USAT. CEO Paolo Ardoino disclosed the partnership during a panel at Token2049 in Singapore, a move to deepen its push into the U.S. crypto market.
Ardoino stated that the video streaming platform will soon launch a crypto wallet integrated with Tether’s infrastructure. The wallet, expected later this year, will feature USAT, offering Rumble’s 51 million active users easy access to the digital dollar.
CEO Paolo Ardoino at Token2049 | Source: TetherThe initiative builds on the company’s $775 million investment in Rumble last year, which secured the company a 48% stake in the YouTube rival, as reported by Bloomberg. With competition heating up in the U.S. stablecoin market, currently dominated by rival Circle’s USDC (USDC), the USDT (USDT) issuer is betting that direct integration with a major content platform will give USAT a competitive edge.
According to Ardoino, Rumble’s wallet will be central to future growth, not only for USAT but also for other products such as its tokenized gold offering. This will position Rumble as an important distribution channel in the stablecoin issuer’s broader plan to further strengthen its place in the stablecoin sector.
Tether eyes U.S. market comeback with USAT
Tether’s USAT on Rumble move comes amid a broader push to gain a foothold in the U.S. market. After years of absence following regulatory hurdles, including a $41 million fine in 2021, the company re-entered the U.S. with the launch of USAT in September, appointing Bo Hines, a former White House crypto advisor, to lead the initiative.
USAT is designed to comply with the GENIUS Act, the stablecoin regulation signed into law by President Trump in July. The legislation allows dollar-backed stablecoins to be issued under strict federal guidelines, opening the door for more listings and broader adoption.
With its new stablecoin, Tether hopes to challenge the stablecoins from incumbents like Circle, World Liberty Financial, and Ripple in the high-stakes race to dominate the American digital dollar space.
Source: https://crypto.news/tether-to-tap-rumble-for-usat-stablecoin-distribution/
