In a watershed moment for the U.S. crypto regulatory landscape, Ethena Labs has entered a record-setting partnership with Anchorage Digital, the only federally chartered crypto bank in the nation.
The deal aims to bring USDtb, Ethena’s stablecoin with a payments-centric mission, onshore with full compliance with the GENIUS Act, a landmark U.S. federal stablecoin issuance framework passed recently.
However, Anchorage Digital is now going to offer USDtb domestically from its platform of Anchorage Digital Bank. It is a first in that it is a development of an offshore stable coin into a highly regulated digital dollar under a U.S. federal charter.
The stable coin was first developed for trading between borders as a programmable dollar. Tough U.S. standards will now regulate it, offering big investors a secure and legitimate way to enter the country’s digital currency market. This moves boosts investor confidence and ensures higher compliance.
The announcement also signifies the first distribution of Anchorage Digital’s new stablecoin issuance platform, a turnkey solution for institutions that wish to develop and distribute compliant stablecoins.
In choosing Ethena Labs as its first partner for this initiative, Anchorage demonstrates a strong belief in the mission of the project to combine innovation with institutional-grade regulatory compliance.
Anchorage, Ethena push USDtb into regulated growth
However, Nathan McCauley, CEO of Anchorage Digital, emphasized trust and clarity of rule. The GENIUS Act now enables federally regulated institutions to meaningfully participate in the stablecoin economy.
Facilitating USDtb’s transition is in line with our mission to place compliant infrastructure front and center in digital finance.
Guy Young, CEO of Ethena Labs, agreed, indicating that GENIUS compliance will power USDtb’s next chapter of evolution across financial networks. He also made it clear that with the collaboration with Anchorage, scalability will never be a trade-off for speed, nor for compliance, nor trust.
Reissuance of USDtb under Anchorage Digital Bank now makes it a preferred choice for financial institutions seeking regulated access to stable digital currencies. This also paves a clear roadmap to broader adoption and interoperability with mainstream U.S. financial systems.
Nonetheless, Ethena boasts over $6 billion in cumulative value locked (TVL) and obtained secured institutional funding from top players like Fidelity, Franklin Templeton, and Binance Labs. Its nascent ecosystem now enjoys more protection through regulation.
