USAT

USAT, branded as USA®, is a fiat-backed stablecoin issued by Tether and designed to maintain a one-to-one value with the US dollar. It was built specifically to operate inside the regulatory framework established by the United States GENIUS Act, making it one of the first stablecoins structured around that federal standard. The issuer of record is Anchorage Digital Bank, N.A., which the data describes as America's first federally regulated stablecoin issuer, and the token is intended for people or institutions who want dollar exposure within a US-regulated structure.

Each USAT token is intended to be backed by US dollar reserves held at the issuer, Anchorage Digital Bank, N.A., so that one token can in principle be redeemed for one dollar. The token operates across at least two blockchain networks — the Celo ecosystem and the Ethereum ecosystem — meaning it can move and settle on those chains according to their respective rules. No consensus algorithm or block time is recorded in the data for USAT itself, which is consistent with it being a token issued on top of existing blockchains rather than a standalone chain.

The data provided does not include a fee stream, revenue figure, or protocol earnings for USAT, so no fee-based analysis can be constructed from what is stored here. Stablecoin issuers of this type typically earn income from the yield on the reserves backing the tokens, but that information is not present in the data. The 30-day turnover ratio of 1.046 and the 24-hour turnover ratio of 0.677 describe trading volume relative to market capitalisation over those respective periods, but they reflect secondary-market activity rather than protocol revenue. The fully diluted value equals the market capitalisation, and dilution overhang stands at 0.0 percent, indicating no additional supply is pending issuance at this time.