Tether-backed Utexo brings private USDT transfers back to Bitcoin

Tether is bringing USDT back to Bitcoin this month via Utexo, a Tether-backed project launching on the chain more than a decade after the stablecoin debuted there. The project supports private USDT transfers, direct BTC-USDT swaps and BTC-backed loans, keeping most transaction data off Bitcoin's public ledger.

• CoinDesk's announcement confirms the launch window and feature set.
• The privacy-focused setup routes transfers off the public ledger, distinguishing Utexo from standard onchain USDT activity.
• No details on issuers, infrastructure or rollout beyond the planned October launch were disclosed.