Anchorage Digital has announced the issuance of USDtb, the US’s first federally regulated stablecoin, aiming to improve how digital dollars are developed and governed in the country’s financial system.
The stablecoin was issued in collaboration with Ethena Labs, as part of an agreement announced earlier in 2025 to deliver USDtb to the US market under secure and compliant stablecoin infrastructure. USDtb is developed for federal compliance and is set to circulate under direct oversight by the Office of the Comptroller of the Currency (OCC) through Anchorage Digital Bank. Through this, the company aims to scale transparency, safety, and regulatory clarity in digital dollar issuance.
Solidifying the US’s position in the digital age
USDtb’s rollout comes as part of Anchorage Digital Bank’s long-term strategy to support issuance of stablecoins in line with federal law at scale. Recently, the crypto platform for institutions has been focusing its efforts on further advancing its position in the industry and expanding its capabilities, acquiring Mountain Protocol and developing one of the first industry’s federally regulated infrastructures for minting, redeeming, and managing issuance of stablecoins. These initiatives supported Anchorage Digital Bank in offering USDtb to the US market.
USDtb creates a new standard for how digital dollars can be integrated securely into the US financial system. The GENIUS ACT, which was passed into law in July 2025, delivers clear guardrails for issuance, reserves, and redemption, supporting regulated banks, such as Anchorage Digital, to anchor accountability in the stablecoin market. Following extensive collaboration between Ethena Labs and Anchorage Digital, the announcement also represents the first time a stablecoin has moved to a new issuer. The two organisations have worked together to ensure a secure hand-off and, moving forward, the crypto platform will be the sole issuer of USDtb.
Furthermore, the reserves supporting USDtb are almost entirely invested in BUIDL, BlackRock’s tokenized US Treasury fund. This positions Anchorage Digital as one of the largest holders of BUIDL tokens. Additionally, with this rollout, the crypto platform solidifies its place as a partner for institutions and other industry participants looking to participate in stablecoins in the US, delivering federally regulated issuance, settlement, custody, and treasury management within a single platform.
In a recent interview for The Paypers, Anchorage Digital's Boaz Avital talked about why institutional demand for stablecoin and crypto infrastructure reached new levels following the introduction of the GENIUS Act. Find out more about the company’s offering, mission, and insights into the industry here.
