Ethena teams with Anchorage Digital to launch regulated USDtb

Ethena Labs announced a partnership with Anchorage Digital to issue its USDtb stablecoin under the newly enacted GENIUS Act, marking the first fully regulated version of the token in the United States [1]. The collaboration places issuance directly with Anchorage, the only crypto‑native firm holding a federal banking charter, and aims to strengthen Ethena’s foothold in the institutional crypto‑lending market.

Key takeaways

• USDtb will be issued by Anchorage Digital using its stablecoin platform, providing a federally chartered compliance pathway [1].
• The GENIUS Act creates a federal framework for stablecoins, granting the Federal Reserve oversight and imposing reserve‑asset requirements [1].
• Ethena expects the regulatory clarity to boost demand and expand use of USDtb across new products and platforms [1].
• Anchorage has previously supported Treasury‑proposed AML and sanctions rules under the GENIUS Act, underscoring its role in shaping stablecoin regulation [3].
• The partnership follows Ethena’s broader strategy of integrating synthetic dollars into mainstream finance, including a recent TON/Telegram integration offering yield incentives [2].

Ethena leverages Anchorage’s federal charter for USDtb issuance

Ethena’s CEO Guy Young cited strong demand for the USDtb token as the catalyst for moving the stablecoin onto a GENIUS‑compliant framework [1]. Under the agreement, Anchorage will issue USDtb directly, employing its proprietary stablecoin platform that streamlines compliance for institutional participants. Anchorage’s unique status as the sole crypto‑native institution with a U.S. banking charter gives it a distinct advantage in meeting the GENIUS Act’s stringent reserve‑holding and reporting standards [1].

The GENIUS Act, signed into law by President Donald Trump, establishes a federal regulatory regime for stablecoins, assigning oversight to the Federal Reserve and setting strict conditions on reserve assets [1]. By aligning USDtb with this framework, Ethena aims to reassure investors and partners that the token operates within a transparent, regulator‑approved environment. The move also positions Ethena to tap into the growing institutional demand for compliant digital dollars, a market segment that has been hampered by regulatory uncertainty.

Anchorage’s broader regulatory engagement and Ethena’s ecosystem push

Anchorage Digital has publicly backed the U.S. Treasury’s joint FinCEN and OFAC proposal to implement the anti‑money‑laundering and sanctions components of the GENIUS Act, submitting a detailed comment letter on June 9, 2026 [3]. This advocacy highlights Anchorage’s active role in shaping the regulatory landscape that now underpins Ethena’s USDtb issuance.