Anchorage Digital, the first federally chartered cryptocurrency bank in the United States, has joined forces with Ethena Labs to introduce USDtb, the first stablecoin compliant with the recently enacted stablecoin bill in the US under the GENIUS Act.
USDt is transitioning from offshore availability to full accessibility in the US market through Anchorage Digital’s regulated banking platform, entering one of the industry’s most competitive spaces.
First GENIUS-Compliant Stablecoin In The US
USDtb, which currently boasts a token supply of $1.45 billion on the Ethereum (ETH) blockchain, represents a pivotal step in the integration of stablecoins into the American financial landscape.
With this launch, Anchorage Digital will utilize its stablecoin issuance platform—a turnkey solution designed for institutions looking to issue and distribute fully compliant digital dollars.
Nathan McCauley, CEO and Co-Founder of Anchorage Digital, expressed enthusiasm about the regulatory clarity provided by the recently signed into law GENIUS Act, stating, “The passage of the GENIUS Act provides the regulatory clarity that enables federally regulated institutions like Anchorage Digital Bank to fully participate in the stablecoin ecosystem.”
This regulatory framework allows institutions to navigate the digital asset market with greater confidence and transparency, aligning with high standards set by the new legislation which has been deemed as one of the most historic moments in history for this financial sector.
Ethena Labs CEO’s Prediction
Guy Young, CEO of Ethena Labs, highlighted the anticipated benefits of GENIUS compliance for crypto firms, noting, “While we’ve already seen strong demand for USDtb, we expect GENIUS compliance to empower our partners and holders to confidently and significantly expand its use across new products and platforms.”
Both firms allege that with stablecoins adoption into traditional financial operations—from real-time settlements and cross-border transactions to innovative fintech solutions—the collaboration between Anchorage Digital and Ethena Labs positions them at the forefront of this progressive regulatory environment.
By facilitating a safe, scalable, and regulated issuance process, Anchorage Digital claims that its goal is to ensure that this foundational layer of finance is built on a framework of trust and resilience.
However, the implications of this partnership extend beyond mere compliance. With the US financial system evolving rapidly, the ability to issue USDtb under a federally regulated framework provides institutions with a reliable pathway to integrate digital assets more seamlessly into their operations.
It remains to be seen what next steps the stablecoin issuers will take to comply with this new law and what further benefits Ethena and Anchorage will gain from the Anti-CBDC bill and the CLARITY Act, which is also aimed at providing further supportive regulatory framework for crypto firms in the US.
Featured image from DALL-E, chart from TradingView.com
