-
Anchorage Digital will issue Ethena Labs’ USDtb stablecoin under GENIUS Act compliance.
-
USDtb is backed by BlackRock’s BUIDL and crypto collateral and offers yield.
-
The move brings USDtb into the U.S. under federal regulatory oversight for the first time.
-
Anchorage aims to be a turnkey platform for issuing fully compliant digital dollars.
GENIUS Act Paves the Way
Anchorage Digital Bank will mint Ethena Labs’ USDtb stablecoin in the U.S., making it the first yield-bearing token issued under the newly passed GENIUS Act. USDtb differs from traditional stablecoins like USDT and USDC by offering yield, backed by crypto and BlackRock’s BUIDL fund.
Previously circulating offshore, USDtb has already amassed $1.45 billion in TVL.
A Compliant U.S. Launch
The issuance through Anchorage brings USDtb under direct federal oversight, meeting GENIUS Act requirements for stablecoin issuers. Anchorage will provide minting and redemption infrastructure, while Ethena continues expanding USDtb use across platforms and products.
Growing Demand for Yield-Bearing Dollars
With the GENIUS Act now law, demand is growing for programmable dollars that offer returns. Treasury Secretary Scott Bessent and Anchorage CEO Nathan McCauley both said the law brings clarity and will drive adoption.
USDtb joins a crowded field with Circle and PayPal, which must also align with new rules. Big banks like JPMorgan and Citi are preparing to follow suit.
