CoinDesk reported that Tether's USAT, a regulatory-compliant stablecoin targeting the US market from Tether, the issuer of the world's largest stablecoin USDT, is showing significant growth, but is still far behind competitors like Circle's USDC. The media explained, "USAT's market capitalization grew to $140 million as of April, an increase of approximately 540% in one month. According to Deloitte's audit, its reserve size also significantly increased from $22.2 million in March to $141.2 million in April. Nevertheless, USAT's market capitalization is still far behind competitors such as USDC, PYUSD, and RLUSD."
