Stablecoin Tether... "Preparing to Enter the US Market"

Tether's USDT is currently the stablecoin with the highest trading volume and liquidity in the crypto ecosystem. In the US, though, it has been notably weak, and the reasons were "regulatory barriers" and "USDC." From the US perspective, it would hardly look good for a Hong Kong company, not even an American one, to take over dollar dominance.

Now Tether is reportedly developing a new business model that fits US regulations. It appears to be lobbying the US heavily to make this happen, and is said to be working with the US Congress on a new stablecoin policy. Could a new stablecoin combining USDT + AMERICA launch soon?

If Tether enters the US, it will compete directly with Circle's USDC, currently the No. 1 stablecoin in the US. These days, many DEXs, including Binance, have been pushing USDC hard... If this happens, preference for USDT will likely rise again too.

Tether bowing its head and coming in like this isn't such a bad deal for the US, because Tether is already well known as a big holder of US Treasuries.

Anyway, if Tether successfully enters the US market, competition in the stablecoin sector will likely become even more dynamic. My guess is that it will launch as a smart stablecoin like Ethena's USDe, and if that happens, I think crypto mass adoption may end up happening first on the stablecoin side.