USDT Is Headed Back to Bitcoin, With a Public Launch Set for Nov. 28

The world's largest stablecoin is preparing to return to the Bitcoin network, where it first launched in 2014.

What's happening

Utexo has opened Utexo Mint, a platform where verified exchanges, wallets, market makers and other professional operators can test minting, private transfers and redemption of USDT on Bitcoin, Bitcoin Magazine reported. Testing runs in a sandbox ahead of a public launch scheduled for Nov. 28, when USDT is set to become available on Bitcoin through partner wallets and exchanges.

The token uses RGB, a protocol that keeps transaction details off the public chain. A second phase, planned for the first quarter of 2027, would extend USDT to the Lightning Network for payments.

Who is behind it

Utexo, not Tether, is launching the product, and Tether does not own or operate Utexo Mint, according to Bitcoin Magazine. The Bitcoin version is backed by USDT through Tether's USDT0 system, with the backing held on Arbitrum, The Defiant reported. Utexo said it screens incoming funds with anti-money-laundering checks and works with Crystal Intelligence on risk monitoring, KuCoin News reported.

Why it matters

Dollar stablecoins have mostly lived on other blockchains. Bringing USDT back to Bitcoin could add dollar liquidity for trading and bitcoin-backed lending directly on the network, and Lightning support could make it useful for payments. As with any new bridge-based product, adoption and security in practice will be worth watching after launch.