Crypto Bank Anchorage Teams Up With Ethena to Issue Regulated Stablecoin in US

Anchorage Digital, the only federally chartered cryptocurrency bank in the United States, has partnered with decentralized finance protocol Ethena Labs to issue a regulated stablecoin under the newly passed GENIUS Act framework. The collaboration will see Anchorage issue Ethena's USDtb token domestically, bringing the offshore stablecoin under US regulatory oversight.

The MOVE marks Anchorage Digital's foray into direct stablecoin issuance, leveraging its federal charter to provide compliant digital dollar alternatives for institutional clients. USDtb, currently operating outside US jurisdiction alongside Ethena's larger synthetic stablecoin USDe, could gain broader access to American markets through this onshore transition.

"The GENIUS Act provides the regulatory clarity needed for federally regulated institutions to fully participate in the stablecoin ecosystem," said Anchorage CEO Nathan McCauley. Ethena CEO Guy Young emphasized the partnership's role in scaling institutional adoption, suggesting GENIUS compliance will enable significant expansion across platforms.