MILESTONE | This Stablecoin Saw Over 500% Growth in April 2026 Alone

Tether’s push into the U.S regulated stablecoin market is gaining traction but the gap with rivals remains massive.

The company’s U.S-focused stablecoin, USAT, expanded more than sixfold in April 2026 with circulating supply climbing to $140.8 million from $22 million a month earlier according to a Deloitte-signed reserve report.

As of this writing, USAT total supply on Ethereum stands at $157.5 million since its January 2026 launch.

The rapid growth highlights rising institutional demand for regulated dollar liquidity products tied to treasury management and settlements as stablecoin issuers race to secure a foothold in the U.S financial system ahead of clearer federal rules.

Still, Tether’s USAT remains a fraction of the size of rivals:

• Circle’s USDC commands roughly $76 billion in circulation, while
• PayPal’s PYUSD has grown to about $5.5 billion, and
• Ripple Labs’ RLUSD stands near $1.7 billion.

Since the passage of the GENIUS Act in 2025, Tether launched USAT in early 2026 and has made the stablecoin available on as many exchanges and wallets as possible globally.

Some of these include:

• OKEX

• ByBit

• Kraken

• Gemini

• Quidax

• Mercado

• BitGet

• MoonPay

The expansion comes as competition in the stablecoin market intensifies with banks, fintech firms, and crypto-native players all positioning for what many expect to become the next major payments and tokenization battleground. Recent partnerships involving firms such as Anchorage Digital and M0 underscore the broader institutional shift toward regulated stablecoin infrastructure.

Tether, already the issuer of the world’s largest stablecoin, USDT, has been accelerating its U.S ambitions following a friendlier regulatory backdrop and a broader expansion into banking, payments, and tokenized finance.

Stay tuned to BitKE on stablecoins growth globally.

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