Ethena Labs is joining forces with
Anchorage Digital to introduce a fully compliant iteration of its USDtb stablecoin within the United States. This strategic move is designed to adhere to the recently
implemented GENIUS Act, according to an official
announcement made on July 24.
This collaboration signifies a key advancement for Ethena, as it shifts the issuance of USDtb to a nationally regulated structure under the GENIUS Act, legislation recently signed into law by US President
Donald Trump.
The GENIUS Act establishes a federal regulatory environment for stablecoins, granting the Federal Reserve the power to oversee the industry. This legislation imposes stringent requirements on reserve asset management and necessitates adherence to specific compliance standards for issuers operating within the United States.
Anchorage’s Role
Ethena has verified that USDtb will now be directly issued by Anchorage, a crypto firm holding a federal charter.
The company states that it will leverage Anchorage’s stablecoin platform to streamline the process for institutions to issue digital currencies that meet regulatory requirements.
Anchorage currently stands as the only crypto-focused organization in the United States with a federal banking charter, providing it with a distinct advantage in the issuance of compliant digital assets.
By shifting its issuance activities to the U.S., Ethena is able to strengthen its position in the stablecoin market while also boosting investor confidence through Anchorage’s regulated status.
Nathan McCauley, CEO and Co-Founder of Anchorage Digital, commented:
“The passage of the GENIUS Act offers the regulatory certainty needed for federally regulated institutions like Anchorage Digital Bank to actively participate within the stablecoin space. As stablecoins evolve into a fundamental component of modern finance, it is crucial they are built upon secure, compliant, and durable infrastructure.”
USDtb Sees Considerable Interest
Guy Young, CEO of Ethena Labs, conveyed that the firm has noted a high level of demand for USDtb, leading to the decision to ensure the digital asset is GENIUS-compliant.
He further stated:
“We believe GENIUS compliance will give our partners and holders the assurance to significantly expand its use across diverse products and platforms.”
USDtb was first
introduced in December 2024 in partnership with Securitize, the entity responsible for issuing
BlackRock’s tokenized BUIDL fund.
The token represents a share of BlackRock’s BUIDL fund, which
holds assets exceeding $2.4 billion, primarily in short-term U.S. Treasury bills.
BUIDL is the foremost tokenized treasury fund and operates on various blockchain networks, including
Ethereum,
Aptos,
Avalanche, and layer-2 solutions like
Arbitrum,
Optimism, and Polygon.