Tether-backed Utexo set to issue USDT on Bitcoin this month

Tether-backed infrastructure project Utexo is expected to begin issuing USDT on Bitcoin this month. USDT is the world's largest stablecoin, with a market capitalization of nearly $190 billion. USDT began on Bitcoin in 2014 using its Omi protocol before Ethereum and later Tron became its primary venues. Utexo was founded in 2025 and raised $7.5 million earlier this year. Utexo co-founder Viktor Ihnatiuk said the project has a commercial license to issue USDT on Bitcoin and use its trademark with exchanges, wallets and payment providers. Utexo would blacklist transaction outputs linked to sanctioned or illicit activity rather than freeze addresses. Utexo plans to expand USDT to Bitcoin's Lightning Network after the initial launch. Tether CEO Paolo Ardoino described the planned return of USDT to Bitcoin as the stablecoin 'coming home'. Ihnatiuk called Bitcoin a source of stability for Tether alongside gold and cited the company's Bitcoin purchases and support for the Bitcoin community. Tether held around 100,000 BTC, worth $8.4 billion, as of mid-August this year, according to Bitcoin Treasuries.