- Ethena’s USDtb will be issued in the U.S. under Anchorage Digital Bank’s federal charter.
- USDtb is the first stablecoin with a clear compliance path under the GENIUS Act.
- Anchorage remains the only active federally regulated crypto bank eligible to issue GENIUS-compliant stablecoins.
Anchorage Digital has launched a stablecoin issuance platform with Ethena Labs signed on as its first client. The move allows Ethena’s USDtb, which was previously issued offshore, to now be released in the U.S. under direct federal oversight.
Anchorage to Issue USDtb Onshore Under New GENIUS Act Framework
Anchorage Digital Bank holds a national trust charter from the U.S. Office of the Comptroller of the Currency (OCC). This unique status makes it one of the few institutions eligible to issue stablecoins under the new GENIUS Act, which President Donald Trump signed into law last week.
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Under the new partnership, Anchorage will now issue Ethena’s USDtb stablecoin onshore. The platform is specifically designed to support digital dollar issuance that aligns with the new U.S. regulatory standards.
USDtb is now on a path to be the first GENIUS-compliant stablecoin
Ethena Labs, which raised $100 million to support this launch, currently has over $1.45 billion of its USDtb token in circulation. Anchorage CEO Nathan McCauley said his company is now positioned to issue stablecoins under clear legal standards, with the Ethena partnership offering a model for how stablecoin issuance can operate under federal supervision.
Ethena Labs stated that this move gives USDtb a clear path to full GENIUS Act compliance. The company described the new structure as aligned with OCC standards and suitable for U.S.-based financial products.
Why Anchorage’s federal charter gives Ethena a head start
Other major crypto firms, including Circle, Ripple, and BitGo, have also recently applied for similar OCC charters. However, Anchorage remains the only active federally chartered crypto bank in the U.S.
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As a result, USDtb is expected to be the first stablecoin issued onshore with GENIUS-compliant oversight, signaling a major shift toward a regulated stablecoin market built on federal banking infrastructure.
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