Anchorage & Ethena Launch US GENIUS-Compliant Stablecoin
Anchorage Digital and Ethena Labs Launch GENIUS-Compliant Stablecoin
Anchorage Digital and Ethena Labs have partnered to launch USDtb, touted as the first stablecoin designed to comply with the GENIUS Act in the US. This initiative aims to provide greater regulatory clarity and transparency within the stablecoin ecosystem.
This collaboration leverages Anchorage Digital’s stablecoin issuance platform, enabling institutions to launch and distribute regulated digital dollars. USDtb, initially issued offshore, will now be issued in the US by Anchorage Digital Bank, the first federally chartered crypto bank in the country.
Key Takeaways
- Anchorage Digital and Ethena Labs are launching USDtb as the first GENIUS-compliant stablecoin in the US.
- The partnership leverages Anchorage Digital’s federally chartered crypto bank status to issue regulated digital dollars domestically.
“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,” said Nathan McCauley, CEO and co-founder of Anchorage Digital. “We’re proud to support Ethena in bringing their product to the U.S.—helping deliver even greater transparency and confidence to their partners.”
Ethena Labs CEO Guy Young anticipates that GENIUS compliance will encourage broader adoption of USDtb across various products and platforms, highlighting strong initial demand for the stablecoin.
Ethena Labs, known for its USDe stablecoin, is backed by prominent investors including Fidelity, Franklin Templeton, Dragonfly, Binance Labs, Bybit, and OKX. USDe has achieved over $6 billion in total value locked, positioning it as the third-largest USD-denominated crypto asset.
Anchorage Digital, valued at over $3 billion following its Series D funding round, is supported by investors such as Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa.
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