USAT Aave Listing Proposed For V3 Core And V4 Core Hub On Ethereum

A USAT Aave listing is now on the table. Aave Labs has filed a request to bring the stablecoin to the protocol. The proposal, posted October 9, 2026, would add the stablecoin to both the V3 Core Instance and the V4 Core Hub on Ethereum, according to the governance forum post. Risk providers would set the final parameters later.

The summary and motivation sections of the Aave Labs proposal for USAT.

What the USAT Aave proposal says

USAT is described as Tether America USD, a dollar stablecoin issued by Anchorage Digital Bank, N.A. The post calls Anchorage a federally chartered national trust bank supervised by the Office of the Comptroller of the Currency. It adds that USAT is subject to the GENIUS Act and redeemable one-to-one for US dollars.

Aave Labs gives three reasons. USAT would add a stablecoin issued by a federally supervised bank to the DAO's menu. It would serve institutions that want a coin under the US federal framework. And listing on both versions lets the DAO tune settings separately for V3 and the V4 Core Hub.

Where the token stands today

The proposal names the Ethereum contract for USAT. A totalSupply call on that contract returned 183.3 million USAT on October 10. DefiLlama's series agrees, showing $183.3 million for each of the last eight days.

That flat line is notable for the USAT Aave debate, since the supply is not growing. USAT's DefiLlama history starts on January 29, 2026 at $20.0 million and peaked at $187.5 million on July 7. Today's figure sits 2.2% below that high.

The USAT Aave vote ahead

The USAT Aave proposal is one of several stablecoin listings in play. A day earlier, TokenLogic proposed adding Paxos's USDG to the Aave V3 Arbitrum instance as a borrowable asset with collateral disabled. That post says USDG supply on Aave grew from $94.1 million to $123.2 million over 90 days. It also sets a $30 million supply cap for the Arbitrum listing.

The post lists next steps. Aave holders first discuss the proposal in the ARFC stage. If the response is positive, it moves to a Snapshot vote for off-chain confirmation. After that, an AIP goes to Aave governance to carry out the listing.

Aave Labs states it has no financial relationship with Anchorage Digital Bank, Tether or their affiliates and received no compensation for the proposal. The post had a single entry and 50 views when TOCE read it on October 10.

For scale, DefiLlama figures help. DefiLlama lists Aave V3 at about $17.3 billion in deposits across chains, with $14.5 billion on Ethereum. V4 holds roughly $670 million.

TOCE's latest coverage of Tether and Washington is in the report on the Cantor Fitzgerald letter. This article summarizes a public proposal and is not investment advice.