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.

Summary

• Tether will use Anchorage Digital to issue its new stablecoin USAT.
• USAT is a regulated stablecoin compliant with the GENIUS Act and targeted for the U.S. market.

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.

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.

https://twitter.com/USAT_io/status/1966520959713620001

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.