Anchorage Digital Partners with Ethena to Launch First GENIUS-Compliant Stablecoin

Highlights:

• Anchorage Digital partners with Ethena Labs to launch the first GENIUS-compliant stablecoin.
• USDtb stablecoin will be issued in the U.S. under Anchorage’s federal crypto bank license.
• The move enables regulated institutional access to programmable digital dollars.

Anchorage Digital has partnered with Ethena Labs to introduce the first stablecoin, USDtb, to the U.S., designed to meet the standards of the GENIUS Act. This partnership marks the future of controlled digital asset issuance and complies directly with the demands at a federal level, according to the press release.

Anchorage Digital is quite a distinctive company. It is the first and only federally chartered crypto bank in the U.S. Ethena Labs is most commonly known as the developer of USDe, which is already gaining much popularity globally. The new move makes USDtb, formerly offshore-issued, subject to U.S. jurisdiction. In addition, Anchorage will become the issuing institution of USDtb in the United States. Regulated financial institutions can access programmable digital dollars directly through the stablecoin issuance platform of the company.

NEW! Anchorage Digital is thrilled to announce a strategic partnership with @ethena_labs to bring USDtb to the U.S., aligned with the regulatory standards of the newly enacted GENIUS Act. pic.twitter.com/1wtq4yOcLQ

— Anchorage Digital ⚓ (@Anchorage) July 24, 2025

Regulatory Alignment Boosts Institutional Confidence

Through regulatory clarity, U.S. institutions are now in a hurry to move to digital assets that are compliant under the new Genius Act. Anchorage, being a federally regulated bank, can provide legal clarity in the issuance of stablecoins in the domestic region. USDtb is now more available to the U.S. institutions interested in working within the legal and financial guardrails.

Nathan McCauley, co-founder and CEO of Anchorage Digital, stated that the signing into law of the GENIUS Act brings regulatory certainty that would allow federally regulated institutions such as Anchorage Digital Bank to advance efforts in the stablecoin ecosystem fully.

He also noted that they are delighted to be providing utility to Ethena by bringing their product into the U.S., making it deliver even higher levels of transparency and confidence to their partners. Anchorage’s turnkey issuance system offers a scalable and fast procedure for distributing digital dollars. Moreover, it is likely to enhance the faster use of regulated stablecoins in financial products and fintech platforms.

USDtb Targets Institutional Use and Market Scale

USDtb makes its entry into the U.S. market with a lot of momentum. Institutional demand has been on the increase, particularly for compliant products. Being the third-ranked USD-based crypto asset, USDe already has more than $6 billion in total value locked. Ethena is now taking this success to USDtb in the U.S. territory.

CEO of Ethena Labs, Guy Young, said:

“Although we have seen significant demand for USDtb already, we believe that the introduction of GENIUS compliance will help our partners and holders to enlarge the use of USDtb decisively on more new products and platforms.”

He further added that collaborating with Anchorage Digital, which is the only federally regulated crypto bank in the U.S., solidifies the framework required to sustain scaling the product without sacrificing speed, flexibility, or trust.

Ethena has been backed by heavyweight names such as Fidelity, Franklin Templeton, Dragonfly and Binance Labs. The partnership, moreover, allows access to a regulated, steady structure within the U.S. that draws the attention of institutions as well.

Anchorage has a value exceeding $3 billion already. Moreover, it is backed by GIC, Visa, Goldman Sachs, and KKR, providing credibility and organization to the project. The combination of secure technology and federal oversight helps position USDtb as a trusted digital dollar. In May, Ethena partnered with TON Foundation to bring synthetic stablecoins into Telegram. The partnership introduced both USDe and Ethena Stacked USDe into the TON blockchain.