Anchorage Ethena Launch First U S Compliant Stablecoin Under GENIUS Act

Anchorage Digital, the first federally chartered U.S. crypto bank, has partnered with Ethena Labs to launch USDtb, the first stablecoin compliant with the GENIUS Act. This collaboration marks a significant milestone in aligning digital assets with U.S. regulatory standards, offering institutions a regulated alternative to traditional payment systems. The GENIUS Act, signed into law by Donald Trump in July 2025, provides legal clarity for financial institutions engaging with stablecoins, addressing prior uncertainties that hindered institutional adoption [1]. The USDtb token, previously operated offshore, will now be issued onshore under Anchorage’s federally regulated platform, positioning it as a model for future stablecoin compliance [2].

The partnership leverages Anchorage’s status as a crypto bank to ensure adherence to U.S. federal regulations, while Ethena’s synthetic dollar token aims to modernize payment infrastructure. Industry experts highlight the strategic shift toward integrating stablecoins into traditional finance (TradFi) and decentralized finance (DeFi). Teresa Cameron, CFO of Clear Junction, emphasized that stablecoins offer “essential infrastructure” through real-time settlements and 24/7 availability, a capability that aligns with institutional needs [3]. The GENIUS Act’s passage has catalyzed this trend, with the stablecoin market cap surging post-enactment as confidence in the sector rebounds [4].

Market reactions underscore the broader implications of this development. Western Union CEO Devin McGranahan noted that stablecoins present an “opportunity, not a threat” for remittance providers seeking cost efficiency. Similarly, PNC Bank’s collaboration with Coinbase to offer crypto services, including stablecoin custody, reflects traditional banks’ growing engagement with digital assets. WisdomTree’s post-GENIUS Act rebranding of its USDW stablecoin further illustrates the evolving competitive landscape [5]. Analysts view this as a pivotal moment for the industry, with Anchorage and Ethena setting a precedent for navigating regulatory frameworks without compromising functionality [6].

The launch of USDtb follows a 5% price surge for Ethena’s ENA token after the partnership announcement, signaling investor optimism [7]. However, the focus remains on structural innovation rather than speculative gains. As more traditional firms enter the space—spanning asset managers to cross-border payment giants—the stablecoin market is transitioning from a niche innovation to a core component of global financial infrastructure. The collaboration bridges regulatory compliance with DeFi’s efficiency, potentially accelerating the replacement of legacy systems like SWIFT [8].

By onboarding USDtb to U.S. compliance, Anchorage and Ethena demonstrate the technical and regulatory feasibility of stablecoin issuance. This alignment may encourage broader institutional adoption, as legal ambiguities that previously deterred participation are addressed. The partnership also highlights a maturing crypto industry capable of attracting mainstream stakeholders while maintaining compliance. As traditional finance and DeFi converge, stablecoins are poised to reshape financial transactions, offering a glimpse into the future of digital infrastructure [9].

Source:

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

[2] [Anchorage Digital Launches Stablecoin Issuance Platform](https://blockchainreporter.net/anchorage-digital-launches-stablecoin-issuance-platform-compliant-with-u-s-genius-act/)

[3] [Ethena and Anchorage Bring USDtb Onshore via GENIUS](https://www.ainvest.com/news/ethena-anchorage-bring-usdtb-onshore-genius-act-compliance-2507/)

[4] [GENIUS Act Spurs First US-Compliant Stablecoin Launch](https://news.bitcoin.com/genius-act-spurs-first-us-compliant-stablecoin-launch/)

[5] [Ethena jumps following partnership with Anchorage](https://www.fxstreet.com/cryptocurrencies/news/ethena-jumps-following-partnership-with-anchorage-to-launch-usdtb-stablecoin-under-genius-framework-202507241707)

[6] [Anchorage Digital Bank Partners with Ethena to Issue](https://coincentral.com/anchorage-digital-bank-partners-with-ethena-to-issue-usdtb-onshore/)

[7] [Anchorage and Ethena Bring First U.S.-Compliant Stablecoin](https://www.altcoinbuzz.io/cryptocurrency-news/anchorage-and-ethena-bring-first-u-s-compliant-stablecoin/)

[8] [Anchorage Digital and Ethena Labs team up to launch first](https://cryptobriefing.com/genius-compliant-stablecoin-usdtb-launch/)

[9] [Anchorage Digital Partners with Ethena Labs to Launch the](https://financialpost.com/pmn/business-wire-news-releases-pmn/anchorage-digital-partners-with-ethena-labs-to-launch-the-first-genius-compliant-federally-regulated-stablecoin)