Ethena Labs has partnered with Anchorage Digital to bring its stablecoin, USDtb, under U.S. regulatory oversight. The move follows the recent signing of the GENIUS Act, setting a new standard for stablecoin compliance in the United States. This collaboration aims to position USDtb as the first stablecoin with a clear path to full regulatory alignment under the new law.
Ethena, Anchorage Unveils Regulated Stablecoin
Anchorage Digital, the only federally chartered crypto bank in the country, will now issue USDtb within the United States. Previously issued offshore, the stablecoin had a market cap below $150 million. By bringing it onshore, the two firms are targeting institutional players seeking compliant digital asset exposure.
The GENIUS Act mandates that stablecoins maintain full backing in cash and short-term U.S. Treasury securities. This requirement ensures consumer protection while encouraging financial institutions to engage in digital dollar innovations. Anchorage’s new turnkey stablecoin issuance platform will be the foundation for this rollout.
Anchorage Digital Offers Institutional Gateway
According to Anchorage CEO Nathan McCauley, the GENIUS Act provides the legal clarity needed for stablecoins to become a lasting financial foundation. He emphasized the importance of security and transparency in building long-term trust in digital assets.
Guy Young, CEO of Ethena Labs, said that the partnership strengthens USDtb’s credibility. He noted that GENIUS compliance will increase the stablecoin’s adoption across platforms and products. The collaboration also ensures USDtb retains its scalability without compromising on regulatory standards.
New Competitors Enter Stablecoin Market
This announcement arrives amid a flurry of activity in the stablecoin space. Tether recently revealed plans to launch a U.S.-compliant product. Circle’s USDC may also face pressure as other major institutions, including JPMorgan and Bank of America, reportedly explore their own offerings.
Ethena, backed by major firms like Fidelity and Binance Labs, already boasts over $6 billion in total value locked across its ecosystem. Its flagship product, USDe, is one of the fastest-growing USD-denominated assets in DeFi history.
Anchorage and Ethena’s venture places them at the forefront of the U.S. stablecoin race. With federal regulation now clearly defined, institutional demand for secure, compliant digital dollars is expected to rise sharply.
On the day, Ethena price increased by 5.41% to reach $0.4872, as the asset showed improvement over the previous period of 24 hours. Ethena (ENA) market cap increased to a parallel equivalent of 5.41% to $3.09 billion. Its trading volume has also grown drastically to $1.05 billion, a good 70.66% increase compared to the last day.
