Circle faces first major 'threat' for institutional dollars from Tether’s USAT

While Circle's USDC has operated without a "credible domestic competitor," Tether's USAT has the potential to shake up the landscape, analysts said.

source https://www.coindesk.com/business/2026/01/27/circle-faces-first-major-threat-for-institutional-dollars-from-tether-s-usat