BREAKING: Anchorage Digital & Ethena Labs Drop First-Ever GENIUS Act-Compliant Stablecoin—US Gets Its Crypto Mojo Back

Crypto just got a regulatory green light—and Wall Street won't know what hit it.

Anchorage Digital, the O.G. of crypto banks, teamed up with DeFi powerhouse Ethena Labs to launch the first stablecoin fully compliant with the GENIUS Act. No more regulatory limbo—this is the real deal.

Why it matters? The U.S. just leveled up in the global crypto race. While TradFi still argues about yield curves, the smart money’s already moving onchain.

Bonus cynicism: Banks will spend $10M on consultants to ‘understand’ this—while retail deploys it in 10 seconds.

In Brief

• USDtb becomes the first stablecoin launched under the newly passed GENIUS Act, setting a new U.S. compliance benchmark.
• Ethena Labs will issue USDtb via Anchorage Digital Bank, the only federally chartered crypto bank in the U.S.
• The GENIUS Act provides strict reserve, audit, and licensing rules, fueling a $4B surge in the stablecoin market since its passage.
• Industry giants like JPMorgan and Bank of America express growing interest in stablecoin issuance post-GENIUS Act.

New Stablecoin Launch Marks Milestone in U.S. Regulatory Compliance for Digital Dollars

As part of the recent partnership, Ethena Labs will now issue the USDtb stablecoin in the U.S. through Anchorage Digital Bank, thus becoming the first stablecoin with a clear framework aimed at complying with the GENIUS Act. 

This act, which was signed recently, offers an easier integration of stablecoins into the U.S. financial system and a regulated operational framework for these assets. Thus, issuing this offshore digital dollar in line with the GENIUS Act enables institutions to access U.S.-compliant pathways to hold and issue the USDtb.

This partnership marks a key step in bridging crypto innovation and federal policies. As mentioned by both parties, this move will help establish security, transparency, and compliance.

Ethena Labs, the issuer of the USDe and USDtb holds over $6 billion in total value (TVL), making it one of the largest USD-pegged crypto issuers globally. The firm is backed by other top industry players, including Fidelity and Franklin Templeton.

Firm Leaders Emphasize Trust, Compliance in Stablecoin Collaboration

Anchorage Digital, the only federally chartered crypto bank on U.S. soil, noted that the collaboration is a landmark move. 

Commenting on the recent development, Anchorage CEO Nathan McCauley stressed the importance and timing of the move. McCauley explained that the GENIUS Act offers the much-needed regulatory structure within which institutions like Anchorage Digital Bank can participate in the stablecoin space. 

He emphasized the need for these digital dollars to operate within a secure, lasting, and compliant infrastructure as they continue to become pivotal in modern finance.

We’re proud to support Ethena in bringing their product to the U.S.—helping deliver even greater transparency and confidence to their partners.

Under this launch, Ethena Labs will leverage Anchorage’s turnkey stablecoin issuance platform, which enables the easy creation and distribution of U.S.-compliant stablecoins.

CEO of Ethena Labs, Guy Young, also praised the recent collaboration and expressed confidence in its future trajectory. According to Young, the regulatory-compliant MOVE will boost the confidence of partners and holders, thus expanding USDtb’s user base.

The Ethena Labs chief added that joining forces with Anchorage Digital offers the necessary groundwork needed to scale the product without sacrificing the important components.

GENIUS Act Fuels Surge and Institutional Adoption

Enacted recently, the GENIUS Act aims to provide a regulated environment for stablecoin issuance.

Here’s what the GENIUS Act says:

• Two regulatory options: Stablecoin issuers can choose a federal license or work under approved state programs.
• State oversight for smaller issuers: States can regulate issuers with less than $10B in circulation if approved by a federal committee.
• Strict reserve requirements: All stablecoins must be fully backed 1:1 by cash or short-term U.S. Treasuries.
• No rehypothecation: Issuers cannot lend out or reuse reserve funds.
• Mandatory monthly audits: Independent audits are required every month.
• Executive accountability: CEOs and CFOs must certify reserve reports.
• Not securities or commodities: Stablecoins used for payments are exempt from SEC and CFTC rules.

The GENIUS Act appears to have injected fresh energy into the stablecoin ecosystem. Since the bill’s passage on July 18, the stablecoin market cap has surged over $4 billion to $264 billion, one of the sector’s fastest growth periods. Ethena’s native token, ENA, has also surged over 43% in the past week, trading at $0.57 at the time of writing.

Top firms within the financial space have reacted to this new opportunity, with the Bank of America outlining plans to explore a dollar-pegged stablecoin. Other top industry players like JPMorgan and Citigroup have also declared interest in pursuing stablecoin issuance. As the stablecoin sector continues to expand, Anchorage Digital’s GENIUS Act-compliant launch offers a blueprint for issuers looking to operate within the U.S.

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