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Private, fast USDT is coming to Bitcoin. Can it compete with Ethereum and Tron?

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Private, fast USDT is coming to Bitcoin. Can it compete with Ethereum and Tron?

USDT is coming home to Bitcoin, offering privacy and Lightning-fast payments. But can Bitcoin’s revamped version of Tether compete with stablecoins on ETH and TRON?

Utexo is preparing to bring Tether’s dollar-backed stablecoin back to Bitcoin after a three-year hiatus.

The Dubai-based blockchain startup says it will achieve the integration through RGB, a protocol that keeps asset transaction data off-chain.

The public launch is scheduled for Nov. 28, with Lightning Network support planned for Q1 2027, promising private transfers and fast payments via Bitcoin’s payment network.

But with $300 billion of stablecoin supply already circulating on networks like Ethereum and Tron, why would users want to transact on a slower network that doesn’t offer smart contracts or DeFi? Can it compete with the stablecoin incumbents?

This isn’t the first time we’ve seen USDT on Bitcoin. It actually began life as a stablecoin on Bitcoin in 2014 through the Omni protocol, but Tether eventually halted issuance in August 2023, citing declining usage.

Tether then announced plans to launch USDT on RGB in August 2025. That didn’t happen, however, Tether subsequently led Utexo’s $7.5 million seed round in March, and the new firm will launch the Bitcoin version of the stablecoin using Tether’s USDT0 protocol.

But if usage of USDT on Bitcoin had declined to the point it was no longer viable the first time around, why would it be more popular now? What has changed since 2023?

Viktor Ihnatiuk, co-founder and chief executive of Utexo, tells Magazine the answer is two-fold: Speed and privacy.


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