# Utexo Sets $1 Billion Goal for Bitcoin-Based USDT Within 12 Months By Simon Yoon Canonical URL: https://www.tokenpost.com/news/technology/43738 Published: 2026-10-29T17:47:19.000Z Updated: 2026-10-29T17:47:19.000Z Section: Technology > The bridged product remains in Signet testing, with a public launch planned for Nov. 28 and Lightning Network support targeted for the first quarter of 2027. Utexo is targeting at least $1 billion in Tether USDt (USDT) on Bitcoin (BTC) within 12 months, setting an adoption goal for a product still being tested on Bitcoin Signet. Utexo co-founder and CEO Viktor Ihnatiuk called that figure the company’s minimum milestone. “I would love to achieve our minimum milestone of $1 billion USDT on the Bitcoin network in the next 12 months,” he said. Ihnatiuk also said Utexo is working with 12 over-the-counter network partners and has 40 more in its pipeline. The $1 billion figure is a target, not evidence of existing balances on Bitcoin. On Thursday, Oct. 29, USDT balances stood at about $71.6 billion on Ethereum and $92.2 billion on Tron, providing context for the scale of the stablecoin’s supply on those networks. Utexo’s model locks USDT0 on Arbitrum and backs each Bitcoin-based token one-for-one with those funds. Burning the Bitcoin token triggers the release of corresponding funds on Arbitrum. This makes the product a bridged version of USDT, rather than direct Tether issuance on Bitcoin. The product uses RGB, a system in which participants validate contract and asset data themselves. Cryptographic commitments connect changes in that data to Bitcoin, while contract details remain off the network’s public ledger. Transfers carry a 0.1% fee, plus fees charged by the source network. Tether stopped minting USDT on Bitcoin’s Omni Layer in August 2023, citing declining use as exchanges favored other networks. Utexo’s approach uses RGB and a lock-and-mint bridge, a different route for putting USDT on Bitcoin. Utexo opened testing for professional operators on Bitcoin Signet on Thursday, Oct. 22, as detailed in the [earlier testing and rollout coverage](). The company plans a public launch through partner wallets and exchanges on Nov. 28, while Lightning Network support is targeted for the first quarter of 2027. ## Links in this article - [earlier testing and rollout coverage](https://www.tokenpost.com/news/technology/39249)