727 FinanceAccording to ChainCatcher news, Tether’s USDT will return to the Bitcoin network this month and be issued through Utexo, an infrastructure project supported by Tether. With a market value of nearly US$190 billion, USDT is the world's largest stablecoin. It was originally born on the Bitcoin Omni protocol in 2014. Since then, Ethereum and Tron have become its main issuance networks. Tether CEO Paolo Ardoino said on X last week that “it’s coming home.” Founded in 2025, Utexo raised $7.5 million in funding earlier this year, led by Tether, and has obtained a commercial license to issue USDT on Bitcoin.
Utexo uses the RGB protocol and client-side verification to keep most transaction data outside the Bitcoin public ledger, with ownership anchored on UTXO. Unlike the account models of Ethereum and Tron, transaction details are saved completely off-chain between the two parties, and the Bitcoin ledger is only used to cryptographically prove ownership. Utexo provides three main use cases: private USDT transfers, direct exchange of native BTC and USDT, and lending with native Bitcoin as collateral, without the need for cross-chain encapsulation like WBTC.
Since RGB assets are ultimately anchored to Bitcoin UTXOs, Utexo cannot freeze assets like Tether freezes Ethereum addresses. Instead, it maintains a blacklist of UTXOs related to sanctioned or illegal activities and distributes them to institutions such as exchanges, making these UTXOs unredeemable.