Tether USDT Returns to Bitcoin Network This Month

Tether's USDT will return to the Bitcoin network this month, issued through the Tether-supported infrastructure project Utexo. With a market capitalization of nearly $190 billion, USDT is the largest stablecoin in the world, originally launched on the Bitcoin Omni protocol and now primarily issued on the Ethereum and Tron networks. Utexo was established in 2025 and completed a $7.5 million funding round earlier this year, led by Tether, and obtained a commercial license to issue USDT on Bitcoin. Utexo utilizes the RGB protocol with client-side validation, keeping most transaction data off the Bitcoin public ledger, with ownership anchored on UTXO. Unlike the account models of Ethereum and Tron, transaction details are fully preserved off-chain between the two parties, with the Bitcoin ledger used solely for cryptographic proof of ownership. Utexo offers three main use cases: private USDT transfers, direct exchanges between native BTC and USDT, and lending collateralized by native Bitcoin. Since RGB assets are anchored to Bitcoin UTXO, Utexo cannot freeze assets but maintains a blacklist of UTXOs associated with sanctioned or illegal activities, distributing this information to exchanges and other institutions to prevent these UTXOs from being redeemed.

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