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ZEC $1,370 Utexo Plans to Launch Private USDT Transfers on Bitcoin This Month
Tether-backed Utexo holds a commercial license to issue USDT on Bitcoin, with private transfers, direct BTC-USDT swaps and BTC-backed lending planned.
Key takeaways
- USDT is nearly $190 billion. USDT now has a market cap of nearly $190 billion.
- Tether holds about 100,000 BTC. Bitcoin Treasuries data shows Tether held around 100,000 BTC, valued at $8.4 billion, in mid-August.
- Over 450 businesses are interested. More than 450 businesses, including exchanges and wallet providers, have shown interest in Utexo.
What happened
Utexo plans to launch USDT on Bitcoin mainnet this month. Co-founder Viktor Ihnatiuk said the company has secured a commercial license to issue the stablecoin using its trademark, according to Blockonomi. CoinGape reported that Utexo holds commercial authorization from Tether to issue USDT on Bitcoin, and that the project plans to launch the stablecoin on Bitcoin mainnet in October.
The platform runs on RGB and Bitcoin's UTXO model. It will support private USDT transfers, direct swaps between native BTC and USDT, and lending against native bitcoin, which avoids the wrapping that tokens such as WBTC require. Utexo will start the October rollout on Bitcoin mainnet and plans to add Lightning Network support later.
Because RGB assets sit against Bitcoin UTXOs, Utexo cannot freeze them the way an Ethereum address can. The company will maintain a blacklist of UTXOs linked to sanctioned or illicit activity and share it with exchanges and other providers. Ihnatiuk said the UTXO would "just become unredeemable."
Why it matters
The launch returns USDT to the network where it began. USDT first appeared on Bitcoin in 2014 through the Omni protocol, and Tether stopped issuing Omni in 2023 as activity moved to Ethereum and Tron. Ihnatiuk said "Tether has always been a Bitcoin company."
Utexo offers an option alongside wrapped bitcoin products. Borrowers can post native bitcoin as collateral instead of moving BTC to another chain. Wider adoption will require more integration by exchanges, wallets and other platforms.
What the data shows
Bitcoin Treasuries data shows Tether held around 100,000 BTC, valued at $8.4 billion, in mid-August. USDT now has a market cap of nearly $190 billion.
Utexo was founded in 2025 and raised $7.5 million earlier this year. More than 450 businesses, including exchanges and wallet providers, have shown interest in the project.
Background
USDT began on the Bitcoin network in 2014 through the Omni protocol. Ethereum and Tron later became its main venues. Tether CEO Paolo Ardoino addressed the plan in a post on X, writing, "It's coming home."
What is still unclear
- The reports say the launch is set for this month and describe an October rollout on Bitcoin mainnet, but no exact date is given.
- Utexo has not confirmed any partnerships, although discussions involving larger financial institutions have emerged.
Questions readers ask
When will Utexo launch USDT on Bitcoin?
The reports say the mainnet launch is planned for this month, and CoinGape describes an October rollout on Bitcoin mainnet. Lightning Network support is planned later.
Who is behind the USDT deployment on Bitcoin?
Utexo, a Bitcoin payments infrastructure project founded in 2025. It raised $7.5 million earlier this year and holds a commercial license to issue the stablecoin using the USDT trademark.
How private are USDT transfers on Utexo?
The platform relies on RGB's client-side validation to keep transaction data off Bitcoin's public ledger, with ownership anchored in UTXOs. It will blacklist UTXOs linked to sanctioned or illicit activity rather than freeze an address.
Does Utexo work with the Lightning Network?
After the Bitcoin launch, Utexo plans to expand USDT support to the Lightning Network.
