Ethena and Anchorage Bring USDtb Onshore via GENIUS Act Compliance

Ethena Labs and Anchorage Digital have announced a partnership to transition the issuance of USDtb, a stablecoin previously operated offshore, to a U.S. federal regulatory framework under the GENIUS Act. This collaboration positions USDtb as the first stablecoin to align with the new legislation, marking a pivotal step for stablecoin innovation within the U.S. financial system [1].

Anchorage Digital, the sole federally chartered digital asset bank in the U.S., will serve as the issuer of USDtb under U.S. regulations. The move shifts the stablecoin’s operations from offshore jurisdictions to a compliance-driven onshore model. Ethena, which emphasizes compliance-first approaches in digital asset development, stated the partnership addresses growing demand for regulated stablecoin solutions. Previously, USDtb’s offshore structure limited its utility in U.S. markets, but Anchorage’s platform now provides a “clean path” into the domestic financial infrastructure [2].

The GENIUS Act, recently enacted, mandates strict transparency, backing, and redemption standards for stablecoin issuers. Anchorage described the legislation as a “turning point” for the industry, offering a clear legal framework to ensure compliance while fostering innovation [3]. By leveraging Anchorage’s federally regulated infrastructure, Ethena aims to scale USDtb responsibly. CEO Guy Young emphasized that the partnership creates a foundation for institutional trust, enabling broader adoption across platforms and products. “It’s no longer just about demand; it’s about access with trust,” he stated, referencing a tweet highlighting the collaboration [4].

The initiative aligns with broader regulatory pressures in Washington to manage stablecoin risks without stifling technological progress. Institutional investors, now able to hold and transact USDtb through a regulated channel, gain confidence in its compliance-ready framework. Ethena and Anchorage’s approach reflects a strategic pivot toward institutional-grade digital finance, with USDtb evolving from a product into a “regulated asset with a legal home in the U.S.,” according to the companies [5].

This shift underscores the growing necessity for stablecoins to align with federal standards as they expand into settlement, payments, and infrastructure applications. Ethena and Anchorage’s early adoption of the GENIUS Act’s requirements positions them to influence the next phase of U.S. stablecoin development, setting a precedent for balancing innovation with regulatory rigor [6].

Source: [1] [Ethena and Anchorage Bring USDtb Onshore Under GENIUS Act Compliance] [https://blockonomi.com/ethena-and-anchorage-bring-usdtb-onshore-under-genius-act-compliance/], [2] [Ethena and Anchorage Bring USDtb Onshore Under GENIUS Act Compliance] [https://blockonomi.com/ethena-and-anchorage-bring-usdtb-onshore-under-genius-act-compliance/], [3] [Ethena and Anchorage Bring USDtb Onshore Under GENIUS Act Compliance] [https://blockonomi.com/ethena-and-anchorage-bring-usdtb-onshore-under-genius-act-compliance/], [4] [Ethena and Anchorage Bring USDtb Onshore Under GENIUS Act Compliance] [https://blockonomi.com/ethena-and-anchorage-bring-usdtb-onshore-under-genius-act-compliance/], [5] [Ethena and Anchorage Bring USDtb Onshore Under GENIUS Act Compliance] [https://blockonomi.com/ethena-and-anchorage-bring-usdtb-onshore-under-genius-act-compliance/], [6] [Ethena and Anchorage Bring USDtb Onshore Under GENIUS Act Compliance] [https://blockonomi.com/ethena-and-anchorage-bring-usdtb-onshore-under-genius-act-compliance/].