Anchorage Digital Bank is set to become the first federally regulated institution to issue a stablecoin under the newly signed GENIUS Act.
The crypto-native bank will bring Ethena Labs’ USDtb — a yield-bearing synthetic dollar — onshore for U.S. issuance and redemption, according to a joint announcement Thursday.
USDtb, backed by a mix of BlackRock’s BUIDL fund and crypto collateral, has already gained traction offshore, amassing $1.45 billion in total value locked since December. Its transition to U.S. soil marks a pivotal moment for regulated digital dollars, as Anchorage offers a compliant platform for minting and distributing the token under federal oversight.
The move follows President Donald Trump’s signing of the GENIUS Act, the country’s first stablecoin law, which opens the door for banks, fintechs, and asset managers to explore programmable yield-bearing tokens with regulatory clarity.
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Anchorage CEO Nathan McCauley called the legislation a green light for the industry, while Ethena CEO Guy Young said GENIUS compliance will unlock broader adoption across institutional products and payment networks.
With this launch, Anchorage enters the stablecoin race alongside established players like Circle and PayPal, and ahead of traditional banks like JPMorgan and Citi, which are still preparing to navigate the new legal framework.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
Source: https://coindoo.com/anchorage-digital-rolls-out-first-fully-compliant-u-s-stablecoin/