Anchorage Digital Partners with Ethena to Issue First GENIUS-Act Compliant Stablecoin

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Anchorage Digital Bank, the only federally chartered crypto bank in the US, has teamed up with Ethena Labs to bring its USDtb stablecoin onshore—the first to align with the recently passed GENIUS Act.

Unlike traditional stablecoins, USDtb generates yield by leveraging BlackRock’s BUIDL and crypto collateral. Since its December launch, it has attracted $1.45 billion in TVL, according to DefiLlama.

Under the partnership, Anchorage will handle US-based minting and redemptions, marking the first time USDtb operates under federal regulation. The bank’s infrastructure will allow Ethena to offer a compliant, yield-bearing digital dollar.

The announcement follows the GENIUS Act’s signing last week, a landmark law expected to spur adoption among asset managers and corporations seeking programmable cash alternatives.