---
title: "Tether USA-T (USAT) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/usat-tether/"
description: "Build-time stablecoin profile for Tether USA-T (USAT). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-06-03"
---



# Tether USA-T (USAT)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

Tether's USA-T is a GENIUS-era U.S. dollar issued 1:1 by Anchorage Digital Bank under an OCC federal charter, backed roughly 80% by {{term:treasury}}Treasury{{/term}}-collateralized reverse repos and 20% cash, with Cantor Fitzgerald {{term:custody}}custody{{/term}} and monthly Deloitte {{term:attestation}}attestation{{/term}} disclosures — the cleanest regulatory setup Tether has ever assembled. The B- report card reflects a product that holds its peg cleanly and rarely strays from the calm end of the stress scale, with no depeg events on record, but hasn't had time to build a track record either way. The real drag is liquidity, which sits at a D grade: the Ethereum-only deployment and thin DEX presence mean USA-T is still distribution-light, and the peg's pristine reads owe as much to youth as to depth. The strategic logic is transparent: USA-T is Tether's answer to USDC on US soil, separating the domestic compliance story from USDT's offshore empire, with a 1:1 {{term:redemption}}redemption{{/term}} promise through Anchorage. Whether American institutions will trust a Tether-branded dollar after a decade of skepticism is the open question — and until liquidity catches up to the compliance story, the answer stays unproven.

## Collateral

Cash and reverse repurchase agreements collateralized by U.S. Treasuries, held for USAT reserves under Anchorage Digital Bank issuance.

## Peg Mechanism

Direct 1:1 redemption through Tether/Anchorage Digital Bank

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| United States | OCC | Federal Bank Charter |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x07041776f5007aca2a54844f50503a18a72a8b68` | 6 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/usat-tether.