Tether Taps Anchorage Digital to Roll out USAT Under Federal Charter

CN
2 hours ago

Anchorage Digital Bank NA, a federally chartered digital asset bank, will oversee issuance, reserve management, and compliance for the new token USAT, according to an announcement shared with Bitcoin.com News. The collaboration essentially pairs crypto rails with bank oversight.

Tether, operator of the world’s largest stablecoin, says more than $160 billion tether ( USDT) is in circulation, and 500 million people use its products to access dollar liquidity. USAT is framed as a U.S. stablecoin offering that brings that scale onto regulated American infrastructure.

“The GENIUS Act laid out the vision for U.S. stablecoin leadership—now, Anchorage Digital and Tether are making it a reality,” Anchorage Digital CEO Nathan McCauley said, calling the effort a “gold standard” approach to bolster the dollar.

Paolo Ardoino, Tether’s CEO, said Anchorage Digital — “the first and only federally regulated crypto bank” — will be the issuer supporting USAT, billed as “the first stablecoin created specifically for the United States.” He said the setup is meant to provide a “fully regulated foundation” and give Americans access to Tether’s speed and reliability.

Supporters will see the pairing as a direct answer to compliance questions that have dogged U.S. dollar-pegged tokens: route issuance through a bank, segregate and attest to reserves, and lean on a chartered institution’s controls. Onlookers will still probe how reserves are managed, audited, and disclosed — and whether a new ticker changes those fundamentals.

For now, the pitch is: Tether brings scale, Anchorage brings the charter, and USAT tests whether bank-issued stablecoins can court users and institutions without truly losing crypto’s core utility on open networks. With the GENIUS Act, the largest stablecoin issuer will be competing with several other firms looking to offer stablecoins under this new legislation.

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