GENIUS Act Spurs First US-Compliant Stablecoin Launch

Following the passage of the GENIUS Act, which regulates stablecoin issuance, Anchorage Digital has partnered with Ethena Labs to launch a U.S.-compliant version of the USDtb stablecoin.

A New Era for Stablecoin Compliance

Just days after U.S. lawmakers passed sweeping digital asset legislation—including the landmark GENIUS Act regulating stablecoin issuance—Anchorage Digital, a federally chartered crypto bank, has announced a strategic partnership with Ethena Labs to launch the U.S.-compliant version of the USDtb stablecoin.

This collaboration marks a pivotal moment in the intersection of crypto innovation and federal oversight. Ethena Labs, known for creating stablecoins USDe and USDtb, will now issue USDtb through Anchorage Digital Bank on American soil—making it the first stablecoin with a clearly defined compliance pathway under the GENIUS framework. This law, recently enacted by Congress, establishes standards for transparency, security, and integration with the U.S. financial system.

Nathan McCauley, CEO and co-founder of Anchorage Digital, emphasized the timing and significance of the move:

“The passage of the GENIUS Act provides the regulatory clarity that enables federally regulated institutions like Anchorage Digital Bank to fully participate in the stablecoin ecosystem… As stablecoins become a foundational layer of modern finance, it‘s essential they’re built on infrastructure thats secure, compliant, and built to last.”

The launch will also tap into Anchorage Digitals stablecoin issuance platform—a turnkey solution for institutions to create and distribute digital dollars aligned with federal standards.

Guy Young, CEO of Ethena Labs, hailed the partnerships long-term promise:

GENIUS compliance will empower our partners and holders to confidently and significantly expand USDtbs use… By partnering with Anchorage Digital, we reinforce the foundation needed to continue scaling the product without compromising speed, flexibility, or trust.

The GENIUS Act has already begun transforming the stablecoin landscape in the U.S., prompting institutions and startups alike to reevaluate their strategies for digital dollar issuance. The Anchorage–Ethena partnership is the first to publicly announce plans that directly align with the new legislation.

As stablecoins rapidly gain traction—fueling everything from cross-border payments to real-time settlements—Anchorage Digitals U.S.-based issuance offers a blueprint for compliance-first crypto growth. The collaboration underscores how regulatory clarity can catalyze responsible innovation, allowing the U.S. to stake its claim as a global leader in digital asset infrastructure.