6:09Do you have any specific growth targets that you can share with us?
6:59How can you ensure viewers, listeners, competitors, that there is no conflict of interest between you and what is happening right now at the White House?
7:59Can you talk to us a little bit about how this role came together and when you started conversations with Pablo or the other folks over at Tether?
9:01Were you talking about this role while you were still employed at the White House?
Although I want to start with you, because it raises the question to me about the difference between U.S. and us. Is the launch of U.S. 8 basically saying that the US is not compliant under the Genius Act?
Absolutely not. So we have expressly said a few times now that also USDC will be compliant with the Genius Act under the foreign issuer protocol. And there is a pathway in the Genius Act to make it happen. And that's what Tether is focusing on. But at the same time, we felt the need to create a domestic stablecoin in the United States that is focusing on the actual needs of the U.S. market. It is a very efficient market compared to all the emerging market developing countries where USDT is leading the way into financial inclusion and growth and the banking of the unbanked or the underbanked. But while in the United States, the landscape is different, there are a lot of many competitors in the financial industry in that sector. So U.S. 8 is going to be specifically designed for the growth of the United States and within the United States.
So let me ask you then, who exactly is U.S. 8 targeting? What kind of customers are you going after with this particular stablecoin and why would they need it? What's the pitch?
Well, look, you know, our payment rails in the United States have been archaic for quite some time. I liken it to technology development: the way that we communicate, the ways in which we move money has really remained stagnant. And so, obviously, with Genius passing and the adoption of stablecoins, I think this revolutionizes our financial system in a way that we've never seen before. It makes payments more cost effective. It gives us instant settlement times. It allows us to move money overseas in a much more expeditious way. So, you know, we're looking at a completely new world. I think the customers that we're looking to serve are both global financial institutions that obviously have deep ties to U.S. capital markets, along with consumers that have been underbanked or underserved for quite some time and don't want to pay, you know, insane amounts for transaction fees when they're just giving money to friends and family.
So, Pablo, how do you effectively outcompete USDC here from Circle? How is your strategy different from theirs? Because if we think about these, I mean, you essentially have to convince us that these aren't commodities. And I don't mean commodities in the way that they're classified by regulators. I mean commodities in the way that they're not necessarily different from one another.
Well, that's a very good point. But I think the only thing that matters, or well, the most important strategy here to compete is distribution that has been built over the last 11 years. Now, the biggest distribution network, physical and digital, probably in the history of money, not taking that lightly. So we have hundreds of thousands of physical distribution places in all the emerging markets, developing countries. We have partnered with Rumble and invested in Rumble as a huge distribution channel within the United States with like 60 million active users per month. I mean, our ability, and we have partnered, we have invested. So we don't have it like our competitors who rent out the distribution channels. We own them, we partner with them, and so we can leverage to maximize the profitability, but also reinvest in our own ecosystem to make it wider, to make it more efficient and cost effective for every single user.
But one thing that's really interesting I think that's happened over the last few months is the idea that stablecoins are no longer just the purview of companies that focus on digital assets. And indeed there's reporting that indicates companies such as retailers or even payments firms are interested in adopting this technology. Can you share with us any conversations that you've had with executives at other companies that are interested in this digital asset? Or are you seeing this with the larger banks in the United States as well? People are talking about issuing their own stablecoin.
You know, I think they're going to pay, but I think that many of these firms are just sort of out over their skis in terms of understanding the technological needs that must be there in order for the infrastructure to work properly. And that's something that we at Tether have: we have the best technology, we have the distribution channels, as Pablo has described. I think that we'll have many partners in this space, will collaborate with many of the traditional financial institutions in the United States to build out the best product for their consumers. I think that we will be adopted far and wide here in the U.S., both from the consumer perspective as well as the institutional perspective. And I think it will set up these corridors to move money in ways that people have never seen before.
Well, look, we're talking to several of them and we'll have fantastic news to release in the coming months. I think we'll have many partners, not just one. We're not going to be exclusive. We're agnostic. We want to help as many consumers as possible in the US, and we want to help as many businesses that we can as well.
All right. So that means you're coming back on to tell us when you do have news, right now as well. You just committed yourself to that. Pablo, talk a little bit about how the U.S. regulated stablecoin that you're launching here will differ when it comes to what it's backed by. We know that USDC is backed by short term U.S. Treasuries, along with some other cash equivalents. What is U.S. 8 going to be backed by?
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Hines, B. (2025, September 16). Bo Hines To Lead Tether's New US Stablecoin USAT [Interview transcript]. Bloomberg Television. CEOInterviews.AI. https://ceointerviews.ai/interview/1015876/
MLA
Bo Hines. "Bo Hines To Lead Tether's New US Stablecoin USAT." Bloomberg Television, 16 Sep. 2025. Transcript, CEOInterviews.AI, https://ceointerviews.ai/interview/1015876/.
BibTeX
@misc{hines2025_1015876,
author = {Bo Hines},
title = {Bo Hines To Lead Tether's New US Stablecoin USAT},
howpublished = {Interview transcript, Bloomberg Television. CEOInterviews.AI},
year = {2025},
month = {sep},
url = {https://ceointerviews.ai/interview/1015876/},
note = {Speaker-attributed transcript with timestamps}
}
