Anchorage, Ethena Launch First Clarity for Payment Stablecoins Act-Compliant USDY in U.S

@Roy, this matter is related to regulation and federal compliance under the new GENIUS Act, so I’m assigning it to you.

@Victoria, this development ties into macroeconomic trends and institutional adoption of regulated stablecoins, so I’d like you to oversee the market analysis.

Key Event:
Anchorage Digital has partnered with Ethena Labs to launch USDtb, the first ever stablecoin to comply fully with the newly passed GENIUS Act in the U.S. This marks a major milestone, as Anchorage Digital Bank will issue USDtb as a federally regulated crypto bank, providing institutions within the American financial system a clear and legal pathway to access stablecoins. The platform is also designed as a turnkey solution for future regulated stablecoin issuance.

Editor-in-Chief,

According to reports from Business Wire and Crypto Briefing on July 24, 2025, the partnership between Anchorage Digital and Ethena Labs to launch USDtb under the GENIUS Act is a pivotal event for institutional crypto adoption in the U.S. This development provides the first clear, federally regulated pathway for institutions to access and issue stablecoins, directly addressing the regulatory ambiguity that has historically hindered mainstream financial sector involvement.

From a macroeconomic perspective, this initiative aligns with the broader trend of financial digitalization, establishing a compliant foundation for stablecoins to function as a core component of modern finance. The GENIUS Act, which was signed into law on July 18, 2025, mandates strict 1:1 backing with U.S. dollars or short-term Treasuries, monthly reserve disclosures, and federal oversight. This regulatory clarity is expected to bolster trust and attract significant institutional capital, potentially increasing demand for U.S. Treasury bills as stablecoin reserves grow.

For institutional adoption, this is a watershed moment. The launch of USDtb through Anchorage Digital Bank, the only federally chartered crypto bank, offers a "turnkey solution" for institutions to issue their own regulated digital dollars. This eliminates the reliance on offshore entities and provides a compliant, programmable dollar for use within the established U.S. financial system. Ethena's decision to bring its USDtb token, which was previously only available offshore, into this U.S. regulated framework signals a strong industry shift toward compliance. Ethena Labs, backed by major firms like Fidelity, Franklin Templeton, and Binance Labs, already has a strong track record with its USDe stablecoin surpassing $6 billion in total value locked.

This partnership gives Anchorage and Ethena a significant first-mover advantage in the new regulatory environment. By being the first to offer a GENIUS Act-compliant stablecoin, they set a precedent and are positioned to capture demand from institutions that have been waiting for a clear legal framework. The move is anticipated to reshape liquidity dynamics in decentralized finance (DeFi) by attracting compliance-focused institutional investors and creating new collateral options in the U.S. market.

Roy, focus your article on explaining the key development: the partnership between Anchorage Digital and Ethena Labs to launch USDtb under the GENIUS Act. Start with what happened and why it’s significant—this is the first federally regulated stablecoin pathway, addressing long-standing legal uncertainty that blocked institutional adoption. Avoid rehashing definitions or broad background unless it directly supports the event's importance. Highlight the major impact areas: regulatory clarity, institutional adoption, and the shift in liquidity dynamics, citing the GENIUS Act's mandates and Ethena’s industry backing for credibility. Keep it concise, factual, and actionable for our audience.

Anchorage, Ethena Launch First GENIUS-Backed USDtb in U.S.

• Anchorage Digital and Ethena Labs partnered to launch USDtb, the first GENIUS Act-compliant stablecoin, marking a groundbreaking regulatory moment for U.S. institutions.

On July 24, 2025, Business Wire and Crypto Briefing reported that Anchorage Digital partnered with Ethena Labs to launch USDtb, the first stablecoin fully compliant with the GENIUS Act. Anchorage Digital Bank, the only federally chartered crypto bank, will issue USDtb, creating a clear, regulated pathway for institutions to access stablecoins within the U.S. financial system.

The GENIUS Act, signed into law on July 18, 2025, establishes strict regulatory frameworks for stablecoins, including 1:1 backing with U.S. dollars or short-term Treasuries, monthly reserve disclosures, and federal oversight. This regulatory clarity eliminates long-standing uncertainties, offering a compliant foundation for stablecoins to function within mainstream finance.

The launch of USDtb marks a significant milestone for institutional crypto adoption. The partnership provides a "turnkey solution" for U.S. institutions to issue regulated digital dollars, removing reliance on offshore stablecoin providers. Ethena Labs’ decision to bring its stablecoin operations into a regulated framework reflects the industry’s shift toward compliance.

Ethena Labs, backed by major financial firms such as Fidelity, Franklin Templeton, and Binance Labs, has an established presence in the market. Its USDe stablecoin has surpassed $6 billion in total value locked, showcasing strong demand for institutional-grade digital dollar systems.

Anchorage and Ethena gain a first-mover advantage by being the first to create a GENIUS Act-compliant stablecoin. This positions them to attract institutional investors seeking regulatory clarity, potentially increasing demand for U.S. Treasury bills as stablecoin reserves expand. The initiative is expected to reshape decentralized finance liquidity by drawing compliance-focused institutional capital into the U.S. market.

As of July 24, 2025, 15:19 UTC, Ethena USDe (USDe) is trading at $1.002, with a 0.7% increase in 24-hour trading volume, according to the latest market data.