Tether, the company behind the $ 148 billion stableecoin USDT, plans to launch his US-focused stableecoin later in the year or early 2026 depending on the country’s stablecoin legislation, CEO Paolo Ardoino told CNBC in an interview.

“Realistically, it depends on the timeline of the final legislation on stableecoins but we look at [launching the product] By the end of this year or early next year on the fastest, ”he said.

Ardoino said the company’s flagship USDT -Token has taken into account users in new markets with limited access to US dollars and the new offer would be another product.

“In the US, you need to create a payment product, something that can be used by institutions, something that can be used as a competitor to PayPal’s Cashapp,” he said in the interview. “That’s what we’re aiming for.”

Tether’s US-based stableecoin plans highlight the company’s growing presence in the United States as Donald Trump’s return to the White House joined the regulatory pressure on cryptic companies.

Ardoino toured in the United States earlier this year, gave interviews and spoke at events, including at a conference by Wall Street Investment Bank Cantor Fitzgerald. Cantor administers Tether’s over $ 100 billion US Finance Ministry, while former CEO Howard Lutnick now acts as trade secretary in the Trump administration.

Competition is also increasing in the stablecoin market as the US federal legislative efforts to regulate stableco’s progress. That’s a great option: Citi expected the sector to grow into a multi-billion dollar by the end of the decade.

Read more: The US Senate is moving towards action on stableecoin bill

Rival Firm Circle, issuer of $ 62 billion USDC Token, announced last month plans to create a cross -border payments and transfers.