Anchorage Digital Launches First U.S. Stablecoin Compliant with 2025 GENIUS Act

Anchorage Digital has launched USDtb, a U.S. stablecoin compliant with the 2025 GENIUS Act, marking the first such product to meet federal regulatory standards. The stablecoin, developed in collaboration with Ethena Labs, is fully backed by audited cash and Treasury reserves at a 1:1 ratio, ensuring compliance with the requirements established by the GENIUS Act, which was signed into law by President Donald Trump in July 2025 [1][2]. This partnership positions USDtb as a key player in aligning cryptocurrency with U.S. regulatory frameworks, a move that could reshape the stablecoin market amid recent challenges faced by other projects. Anchorage Digital Bank will mint and redeem USDtb tokens directly in the U.S., operating under a federal regulatory umbrella for the first time [3]. The launch, announced on July 23, 2025, underscores the growing emphasis on transparency and compliance in the crypto industry, as regulators seek to address risks associated with unregulated stablecoins [4].

The GENIUS Act’s framework requires stablecoins to maintain full reserves and undergo regular audits, a standard USDtb meets through its partnership with Ethena Labs. This development follows broader market shifts, including the underwhelming Nasdaq debut of TRON, which highlighted the volatility and scrutiny facing crypto projects lacking regulatory alignment [5]. By anchoring USDtb to federally regulated assets, Anchorage Digital aims to provide users with a stable, transparent alternative to offshore stablecoins that have faced criticism for opacity. The initiative also reflects Ethena Labs’ focus on bridging institutional-grade custody solutions with retail accessibility, leveraging Anchorage’s infrastructure to expand its market reach [6].

The launch of USDtb has sparked discussions about its potential impact on the U.S. crypto ecosystem. Analysts note that federal compliance could attract institutional investors seeking regulated assets, while also setting a benchmark for competitors. However, the success of USDtb will depend on adoption rates and its ability to navigate evolving regulatory expectations. The stablecoin’s onshore structure may also influence the migration of offshore stablecoin providers toward U.S. compliance, a trend accelerated by the GENIUS Act’s enforcement [7].

Critically, the partnership emphasizes the role of collaboration in advancing crypto regulation. Anchorage Digital’s role as a federally chartered digital asset bank positions it as a key intermediary, while Ethena Labs contributes its expertise in tokenized asset issuance. Together, they have created a product that aligns with the Biden administration’s broader efforts to balance innovation with consumer protection [8]. This alignment is significant as the U.S. seeks to assert leadership in global crypto standards, particularly as other jurisdictions like China continue to tighten controls on digital currencies [9].

The USDtb launch also highlights the regulatory clarity the GENIUS Act provides for stablecoin issuers. By requiring full-reserve backing and regular audits, the Act addresses concerns about fractional reserves and liquidity risks that have plagued earlier stablecoin models. Anchorage Digital’s compliance with these standards could serve as a blueprint for future stablecoin projects, reducing the likelihood of systemic risks while fostering trust among users and regulators [10].

Sources:

[1] [Anchorage Digital Partners with Ethena Labs to Launch the First GENIUS-Compliant Federally Regulated Stablecoin] (https://www.anchorage.com/insights/anchorage-digital-partners-with-ethena-labs-to-launch-first-genius-compliant-federally-regulated-stablecoin)

[2] [Anchorage Digital and Ethena Labs launch first U.S. stablecoin compliant with 2025 GENIUS Act] (https://www.ainvest.com/news/anchorage-digital-ethena-labs-launch-genius-act-compliant-stablecoin-usdtb-2507-38/)

[3] [Anchorage Digital to issue first GENIUS-compliant stablecoin] (https://www.rootdata.com/news/141337)

[4] [Anchorage Ethena Launch First U S Compliant Stablecoin] (https://www.ainvest.com/news/anchorage-ethena-launch-compliant-stablecoin-genius-act-2507/)

[5] [TRON's Nasdaq debut a dud; Ethena stablecoin coming to America] (https://coingeek.com/tron-nasdaq-debut-a-dud-ethena-stablecoin-coming-to-america/)

[6] [Anchorage and Ethena Launch First GENIUS Compliant Stablecoin] (https://coinfomania.com/anchorage%E2%80%91ethena%E2%80%91genius%E2%80%91usd%E2%80%91stablecoin/)

[7] [First U.S.-Compliant Stablecoin Platform Under GENIUS Act] (https://www.btcc.com/en-IN/square/Blockchainreporter/689329)

[8] [Anchorage Digital announces stablecoin issuance platform] (https://cointelegraph.com/news/anchorage-digital-stablecoin-platform-genius-signing)

[9] [Anchorage Digital partners with Ethena Labs for GENIUS-compliant stablecoin] (https://www.ledgerinsights.com/anchorage-digital-partners-with-ethena-labs-for-genius-compliant-stablecoin/)

[10] [Ethena and Anchorage Bring USDtb Onshore Under GENIUS Act Compliance] (https://blockonomi.com/ethena-and-anchorage-bring-usdtb-onshore-under-genius-act-compliance/)