Ethena Partners $3 Billion Anchorage To Launch First GENIUS Act Compliant Stablecoin
The post Ethena Partners $3 Billion Anchorage To Launch First GENIUS Act Compliant Stablecoin appeared on BitcoinEthereumNews.com. With the ink still wet on the GENIUS Act, Ethena Labs and Anchorage Digital have announced plans to roll out a stablecoin for the American market. Parties are aiming for the stablecoin to be the first GENIUS-compliant offering as several issuers scramble for pole position. Ethena Teams Up With Anchorage For USDtb Launch According to an official statement, Anchorage Digital and Ethena Labs are bringing the USDtb stablecoin to US soil. The partnership between the first federally chartered crypto bank and the stablecoin issuer is an attempt to comply with the GENIUS Act. Anchorage Digital Bank will become the primary issuer of the USDtb stablecoin flowing from the strategic partnership. Currently issued offshore and with a market capitalization of less than $150 million, parties say achieving regulatory compliance under the newly signed GENIUS Act will increase institutional appetite for USDtb. USDtb’s launch in the US is the first to lean on Anchorage’s stablecoin issuance platform for institutions to roll out their regulatory-compliant offerings. Anchorage Digital now has its sights on onboarding more institutional players on its turn-key solution for stablecoin issuances. “We’re proud to support Ethena in bringing their product to the US – helping deliver even greater transparency and confidence to their partners,” said Anchorage Digital CEO Nathan McCauley. “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. GENIUS Act To Change The Stablecoin Landscape The signing of the GENIUS Act heralds a raft of new changes for the stablecoin ecosystem, allowing banks and approved issuers to launch their offerings. Furthermore, the law protects consumers by mandating 1:1 fully backed reserves in cash and short-term US treasury bills. “The passage of the GENIUS Act provides the regulatory clarity that enables federally regulated institutions like Anchorage Digital…
The post Ethena Partners $3 Billion Anchorage To Launch First GENIUS Act Compliant Stablecoin appeared on BitcoinEthereumNews.com.
With the ink still wet on the GENIUS Act, Ethena Labs and Anchorage Digital have announced plans to roll out a stablecoin for the American market. Parties are aiming for the stablecoin to be the first GENIUS-compliant offering as several issuers scramble for pole position. Ethena Teams Up With Anchorage For USDtb Launch According to an official statement, Anchorage Digital and Ethena Labs are bringing the USDtb stablecoin to US soil. The partnership between the first federally chartered crypto bank and the stablecoin issuer is an attempt to comply with the GENIUS Act. Anchorage Digital Bank will become the primary issuer of the USDtb stablecoin flowing from the strategic partnership. Currently issued offshore and with a market capitalization of less than $150 million, parties say achieving regulatory compliance under the newly signed GENIUS Act will increase institutional appetite for USDtb. USDtb’s launch in the US is the first to lean on Anchorage’s stablecoin issuance platform for institutions to roll out their regulatory-compliant offerings. Anchorage Digital now has its sights on onboarding more institutional players on its turn-key solution for stablecoin issuances. “We’re proud to support Ethena in bringing their product to the US – helping deliver even greater transparency and confidence to their partners,” said Anchorage Digital CEO Nathan McCauley. “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. GENIUS Act To Change The Stablecoin Landscape The signing of the GENIUS Act heralds a raft of new changes for the stablecoin ecosystem, allowing banks and approved issuers to launch their offerings. Furthermore, the law protects consumers by mandating 1:1 fully backed reserves in cash and short-term US treasury bills. “The passage of the GENIUS Act provides the regulatory clarity that enables federally regulated institutions like Anchorage Digital…
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