Anchorage and Ethena launch the first legal USDtb stablecoin in the US

Anchorage Digital – the first licensed digital asset bank in the US – has just announced a partnership with #ethena to issue the USDtb stablecoin, marking the first stablecoin compliant with the newly enacted GENIUS law in the United States.

USDtb is backed by assets from BlackRock's tokenized BUIDL fund – the world's largest real asset fund with a scale of $2.4 billion. Currently, USDtb has a circulating supply of $1.45 billion after half a year of operation.

The new agreement will allow Anchorage to issue and redeem #USDtb under the US legal framework, while utilizing Ethena's technology to realize a legally digitized version of the dollar.

Ethena's CEO – Mr. Guy Young – believes that the GENIUS law will enhance credibility for new stablecoins, paving the way for a stronger and more sustainable future.

Currently, the US market has many well-known stablecoins such as $USDC (Circle), RLUSD (Ripple), PYUSD (PayPal), but all are having to adjust to meet new legal requirements regarding collateralization, auditing, and anti-money laundering.

In addition, major organizations like JPMorgan, Citigroup, Amazon, and Walmart are also experimenting with domestic stablecoins. Tether – the issuer of USDT – is also not ruling out the possibility of launching a version specifically for the US market.

This week, Ethena also received a significant boost when StablecoinX established a $360 million fund to purchase $ENA , causing the price of ENA tokens to rise by 10% before adjusting.

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