Anchorage and Ethena launch first GENIUS Act-compliant stablecoin USDtb

Anchorage Digital and Ethena Labs have introduced USDtb, the first stablecoin issued under the U.S. Treasury’s GENIUS Act framework, marking a milestone in regulatory compliance for digital assets. Launched through Anchorage Digital Bank—the only federally chartered crypto bank in the U.S.—the stablecoin is fully backed by low-risk assets such as U.S. Treasuries and cash equivalents, aligning with the Act’s requirements for transparency and reserve management [1]. This collaboration leverages Anchorage’s newly established stablecoin issuance platform, which enables institutions to distribute regulated digital dollar assets, capitalizing on growing demand for compliant solutions in the crypto sector [4].

The GENIUS Act, enacted in June 2025, provides a legal framework for stablecoin operations within the U.S. financial system while mandating adherence to transparency and reserve standards. Anchorage Digital CEO Nathan McCauley emphasized that the legislation has created “regulatory clarity” for banks to engage in stablecoin ecosystems, stating the partnership with Ethena would enhance transparency and investor confidence [2]. Ethena Labs, previously issuing USDtb offshore, now partners with Anchorage to bring the token to the U.S. market. Institutional backing from firms like Fidelity and Binance Labs further strengthens its market potential [3].

This development reflects broader efforts to integrate digital assets into traditional financial infrastructure. Anchorage’s platform, announced in July 2025, streamlines stablecoin issuance for institutional clients, positioning the company to address heightened regulatory scrutiny of the sector. The timing of the launch coincides with a critical juncture for stablecoins, as the GENIUS Act formalizes their role in the U.S. economy while setting a precedent for future projects [4]. Ethena Labs CEO Guy Young noted strong existing demand for USDtb, highlighting its potential to expand adoption across platforms [3].

Market implications of the launch are significant. Analysts suggest the GENIUS Act’s regulatory clarity could drive shifts in liquidity toward compliant stablecoins like USDtb, potentially refocusing attention from existing tokens such as USDC and USDT. Historical trends indicate that institutional frameworks often migrate toward regulated assets, and the same may apply here as DeFi yields and crypto liquidity adjust to the new standard [6]. The success of USDtb will depend on its ability to maintain compliance with reserve requirements and attract market adoption.

The partnership underscores Anchorage Digital’s strategic focus on bridging crypto innovation with institutional-grade services. By offering a federally compliant stablecoin, the firm positions itself at the intersection of regulatory frameworks and technological advancement. McCauley stated that the collaboration allows Anchorage to “fully participate in the stablecoin ecosystem,” a critical step for fostering trust among institutional investors and regulators [6]. The U.S. Treasury’s endorsement of the GENIUS framework further solidifies USDtb’s role in promoting accountability within digital asset markets.

The launch of USDtb represents a pivotal shift in the stablecoin landscape. By aligning with federal regulations, Anchorage and Ethena address longstanding concerns about transparency and reserve backing, setting a benchmark for future projects. As the crypto sector continues to navigate regulatory evolution, this initiative highlights the potential for compliant digital assets to coexist with traditional financial systems, fostering greater institutional confidence and market stability [5].

Source:

[1] [Anchorage Digital Partners with Ethena Labs to Launch the First GENIUS Compliant Federally Regulated Stablecoin] [https://www.businesswire.com/news/home/20250723391461/en/Anchorage-Digital-Partners-with-Ethena-Labs-to-Launch-the-First-GENIUS-Compliant-Federally-Regulated-Stablecoin]

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

[3] [Ethena Partners $3 Billion Anchorage To Launch First ...] [https://coingape.com/ethena-partners-3-billion-anchorage-to-launch-first-genius-act-compliant-stablecoin/]

[4] [Anchorage Digital Launching Stablecoin Issuance Platform] [https://www.bloomberg.com/news/articles/2025-07-24/anchorage-digital-launching-stablecoin-issuance-platform]

[5] [Anchorage Digital Launches Institutional Stablecoin Platform] [https://crypto-economy.com/anchorage-digital-launches-institutional-stablecoin-platform-what-is-it-about/]

[6] [Anchorage and Ethena Launch GENIUS-Compliant USDtb ...] [https://www.ainvest.com/news/anchorage-ethena-launch-genius-compliant-usdtb-onshore-stablecoin-2507/]