USDT on Bitcoin: Tether-Backed Utexo Opens Testing for Exchanges

Utexo will launch its Bitcoin-based USDT publicly on November 28. Exchanges, wallets and trading firms are already testing it on Bitcoin Signet. Each token is backed by USDT0 locked on Arbitrum, not by new Tether reserves. Lightning Network support is planned for early 2027. Utexo, a Bitcoin infrastructure company whose seed round was co-led by Tether, will open its Bitcoin-based USDT to the public on November 28, 2026. The company set the date as it opened early access to Utexo Mint, where professional operators can now mint, transfer and redeem the token on Bitcoin’s Signet test network, The Defiant reported…