Tether picks Anchorage Digital to set new standard for U.S. stablecoins

Tether has selected Anchorage Digital, the only federally chartered digital asset bank in the U.S., to issue Tether’s upcoming stablecoin USAT.

Tether announced last week that it will launch its new U.S.-regulated stablecoin, USAT, by the end of the year. Anchorage Digital will help issue the token, which is compliant with the GENIUS Act.

The Tether and Anchorage Digital collaboration highlights the future of digital dollars and sets a new standard for the U.S. stablecoin landscape.

Tether eyes U.S. stablecoin leadership

USAT’s planned launch comes as the stablecoin market gains momentum in terms of global adoption and regulation. The GENIUS Act, enacted into law this year, allows for compliant stablecoin innovation and use in the U.S.

Tether’s USAT issued by Anchorage Digital Bank NA, will add to the traction seen with other players like Circle.

Notably, regulatory clarity is allowing Tether to make it’s foray into the U.S.

“The GENIUS Act laid out the vision for U.S. stablecoin leadership—now, Anchorage Digital and Tether are making it a reality,” said Nathan McCauley, chief executive officer of Anchorage Digital.

“Bringing the largest stablecoin ecosystem in the world to the U.S. under federal oversight is exactly what American consumers and institutions need. With the scale of Tether and the regulatory certainty of Anchorage Digital, we are setting the gold standard for the U.S. stablecoin market,” McCauley added.

Anchorage allows Tether to expand its product, particularly as USDT (USDT) continues to dominate the ecosystem. Currently, USDT stands at over $160 billion in global circulation.

Anchorage Digital Bank will help Tether pursue similar dominance with USAT by managing various aspects of the rollout and adoption of the token. Issuance, reserve management, and financial compliance are the main areas the deal brings to the table.

Paolo Ardoino, CEO of Tether, said in a statement that Anchorage Digital makes it possible for Tether to launch a stablecoin specifically targeted for the U.S. market.

“With USAT, Americans will finally have access to the same speed, reliability, and trust that have made Tether essential around the world,” Ardoino noted. “USAT is made for America – built to strengthen the dollar, support everyday people, and reinforce the U.S. economy for years to come.”