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