Anchorage Digital and Ethena Labs said they're collaborating to develop the first stablecoin that complies with the GENIUS Act, capitalizing on growing demand in the US.
Anchorage Digital, Athena Labs Target First GENIUS-Compliant Stablecoin
24 July 2025 - 19:12 CEST
The partnership will bring Ethena's USDtb stablecoin—currently issued offshore—into the domestic American market through Anchorage Digital's federally chartered banking platform, the companies said in a 24 July statement. They plan to target institutional investors with a product that meets the new regulatory requirements established under the GENIUS Act, underpinned by "trust, resilience and US leadership".
The initiative comes as the US establishes comprehensive regulations for stablecoins and the broader crypto market. These new rules aim to provide consumer protections while creating competitive opportunities for American businesses in the digital asset space.
Currently, US consumers often access cryptocurrency products through offshore platforms that operate with minimal regulatory oversight. However, other major jurisdictions including Japan, Singapore, and Abu Dhabi have already implemented their own stablecoin regulatory frameworks, creating precedents for the American approach.
“The passage of the GENIUS Act provides the regulatory clarity that enables federally regulated institutions like Anchorage Digital Bank to fully participate in the stablecoin ecosystem," said the bank's CEO and Co-Founder Nathan McCauley. "As stablecoins become a foundational layer of modern finance, it’s essential they’re built on infrastructure that’s secure, compliant, and built to last.”
