Anchorage Launches First U.S. Stablecoin Platform Under New GENIUS Act

Anchorage Digital, a digital asset service provider, announced plans to launch a stablecoin issuance platform in the United States, marking a pivotal development in the integration of crypto assets with traditional financial systems. The platform will debut Ethena’s USDtb stablecoin, which was previously issued offshore, under the regulatory framework established by the GENIUS Act. The bill, signed into law by U.S. President Donald Trump on July 24, 2025, has provided clarity for financial institutions seeking to participate in stablecoin markets [1]. This move positions Anchorage as one of the first firms to leverage the new legislation, which is seen as a catalyst for innovation in real-time payments and cross-border transactions.

The GENIUS Act’s passage has spurred a wave of activity among traditional and crypto-native firms. Anchorage’s partnership with Ethena, a synthetic dollar and stablecoin issuer, underscores the growing demand for regulated stablecoin solutions. USDtb, backed by U.S. Treasury securities, will now be issued domestically, aligning with the act’s requirements for transparency and collateralization [2]. Teresa Cameron, CFO of Clear Junction, emphasized the advantages of stablecoins over legacy systems, noting their ability to enable 24/7 settlements and real-time transparency. She described the shift as a transformation from “niche innovation to essential infrastructure” as institutions seek alternatives to SWIFT and other traditional networks [1].

The regulatory clarity provided by the GENIUS Act has also attracted broader industry participation. PNC Bank recently partnered with Coinbase to expand crypto services, while Western Union is exploring stablecoin integrations to modernize its cross-border remittance business. WisdomTree rebranded its USDW stablecoin in response to the new legal environment, signaling a trend of established financial players adapting to the evolving landscape [2]. These developments highlight the act’s role in reducing compliance hurdles and fostering competition in digital asset markets.

Analysts have responded with optimism but caution. Bank of America (BAC) forecasts that stablecoin supply could grow by up to $75 billion following the act’s passage, though this projection reflects an analyst’s view rather than confirmed data [5]. Ethena’s USDtb, already valued at $1.5 billion, is expected to gain broader adoption as U.S. institutions gain access to a regulated framework. The market cap for stablecoins has already seen a surge post-passage, according to RWA.XYZ data, though specific figures remain unverified [1].

The convergence of crypto and traditional finance is accelerating, with stablecoins emerging as a bridge between the two. Anchorage’s platform, the first of its kind in the U.S., exemplifies how institutional infrastructure can adapt to new regulations. As more firms enter the space, the industry faces challenges related to scalability, interoperability, and consumer trust. However, the GENIUS Act’s passage has created a foundation for innovation, with regulators and market participants now navigating uncharted territory together [4].

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

[2] [Ethena Taps Anchorage to Issue $1.5B USDtb Stablecoin] [https://www.coindesk.com/business/2025/07/24/ethena-taps-anchorage-to-issue-usd1-5b-usdtb-stablecoin-in-u-s-under-genius-act]

[3] [Ethena taps Anchorage to navigate GENIUS Act] [https://cryptoslate.com/ethena-taps-anchorage-to-navigate-genius-act-compliance-for-usdtb-stablecoin/]

[4] [Ethena Labs' USDtb debuts in the U.S. via Anchorage] [https://www.mitrade.com/insights/news/live-news/article-3-984712-20250724]

[5] [Bank of America (BAC) Sees 'Relatively Modest' Stablecoin] [https://www.coindesk.com/markets/2025/07/24/stablecoin-supply-to-grow-as-much-as-usd75b-following-passage-of-genius-act-bofa-says]