SAN FRANCISCO -- Anchorage Digital, home to the first and only federally chartered crypto bank, announced a strategic partnership with Ethena Labs, the creator of USDe and USDtb, to bring USDtb to the U.S. as the first-ever stablecoin with a clear pathway to becoming compliant with the recently enacted GENIUS Act—America’s new law to regulate issuance of stablecoins.

The launch will be the first to leverage Anchorage Digital’s stablecoin issuance platform—a turnkey solution for institutions to launch and distribute fully regulated digital dollars. Anchorage Digital’s decision to partner with Ethena, a project focused on developing secure, compliance-driven rails and products that provide institutional investors with access to the unique advantages of digital assets, marks a significant step forward in aligning innovation with regulation in the U.S. financial system.

Under the partnership, the USDtb stablecoin—which is currently issued offshore—will be issued in the U.S. by Anchorage Digital Bank, positioning the firm as the leading U.S. stablecoin issuer for institutions seeking compliant, programmable, digital dollars aligned with the highest regulatory standards set by the GENIUS Act. Issuing this stablecoin under the U.S.-compliant framework enables smoother integration with the U.S. financial system and provides institutions with more accessible, regulated pathways to hold USDtb.

“The passage of the GENIUS Act provides the regulatory clarity that enables federally regulated institutions like Anchorage Digital Bank to fully participate in the stablecoin ecosystem. We’re proud to support Ethena in bringing their product to the U.S.—helping deliver even greater transparency and confidence to their partners. As stablecoins become a foundational layer of modern finance, it’s essential they’re built on infrastructure that’s secure, compliant, and built to last.” — Nathan McCauley, CEO and Co-Founder of Anchorage Digital

“While we’ve already seen strong demand for USDtb, we expect GENIUS compliance to empower our partners and holders to confidently and significantly expand its use across new products and platforms. By partnering with Anchorage Digital—the only federally regulated crypto bank in the United States—we reinforce the foundation needed to continue scaling the product without compromising on speed, flexibility, or trust.” — Guy Young, CEO of Ethena Labs

Stablecoins are quickly becoming the lifeblood of the future of finance—both in America and globally—powering everything from real-time settlement and cross-border payments to next-generation fintech infrastructure and decentralized markets. By enabling safe, scalable, and regulated issuance, Anchorage Digital is helping ensure that this foundational layer of modern finance is built on trust, resilience, and U.S. leadership.