Ethena Labs' USDtb debuts in the U.S. via Anchorage Digital's new stablecoin platform

Anchorage Digital has launched a stablecoin issuance platform and named Ethena Labs as its first partner, according to a statement published via Business Wire on Thursday.

Under the deal, Anchorage Digital will bring USDtb, Ethena’s stablecoin, onshore into the United States and issue it through its federally chartered crypto bank.

This is the first time USDtb will be issued in the U.S. and the first time any stablecoin has been set up with a clear route to compliance under the new GENIUS Act, a law recently signed to regulate how stablecoins operate in America. At least according to them.

Until now, USDtb was only available outside the U.S. But this new setup means institutions can now access the token from inside the American financial system under the watch of federal regulators. Anchorage’s new issuance platform gives firms a regulated path to create and distribute digital dollars. The company described it as a turnkey solution, meaning it’s built for plug-and-play issuance.

Anchorage Digital Bank will issue USDtb in the U.S.

As part of the agreement, Anchorage Digital Bank will issue USDtb inside the United States. This puts the company ahead of other firms trying to launch stablecoins that meet the new requirements under the GENIUS Act.

By going through Anchorage Digital Bank, USDtb will meet those standards from day one. It’s designed for institutions that want programmable digital dollars they can actually use inside the system without relying on offshore entities.

Anchorage CEO Nathan McCauley said the new law removes any ambiguity. “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,” Nathan said. He added that the company is supporting Ethena in getting USDtb into the country and making it more transparent for partners.

Ethena CEO Guy Young said moving USDtb into the U.S. through Anchorage changes everything. “While we’ve already seen strong demand for USDtb, we expect GENIUS compliance to empower our partners and holders to confidently and significantly expand its use across new products and platforms,” Guy said.

He also said working with Anchorage, currently the only crypto bank regulated at the federal level, gives the project the right structure to grow without losing flexibility or reliability.

The partnership is not just about one token. Anchorage Digital said the platform was built to support more institutions that want to issue stablecoins legally. But USDtb is the first one out the gate. It’s also the first one to follow the GENIUS rules in full from launch. That gives it an edge with U.S. firms who want something clean, legal, and easy to integrate into existing infrastructure.

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