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Anchorage Digital, one of the leaders in the crypto banking sector, has launched a new stablecoin issuance platform for institutional customers following the passage of a new stablecoin law in the U.S.
The platform's first customer is Ethena Labs, which previously launched the USDtb token overseas. From now on, USDtb will be issued in the U.S. by Anchorage Digital Bank.
Anchorage Digital is the only active crypto bank regulated by the U.S. Office of the Comptroller of the Currency (OCC) and holding a national trust charter. The company aims to position itself as the primary stablecoin issuer for institutional investors with this move.
The process gained momentum following the signing of the “GENIUS Act” by President Donald Trump last week, which expanded the OCC's authority to include non-bank stablecoin issuers. With the law, companies such as Ripple, Circle, and BitGo also applied for national licenses similar to those held by Anchorage Digital.
Anchorage Digital CEO Nathan McCauley highlighted that the clarification of regulations has brought stability to the sector, stating, “The GENIUS Act enables federally regulated institutions to fully integrate into the stablecoin ecosystem.”
The USDtb token, which was launched at the end of 2023, currently has a circulation exceeding $1.45 billion, according to Etherscan data. Ethena Labs secured a $100 million investment to support the token's launch in the U.S.
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