Summary: Ethena taps Anchorage to navigate GENIUS Act compliance for USDtb stablecoin

Game-Changer for Digital Dollars: Ethena's USDtb Embraces US Regulation! Ethena Labs is making headlines, partnering with Anchorage Digital to fully regulate its USDtb stablecoin in the U.S. This landmark move aligns USDtb with the newly enacted GENIUS Act, a transformative federal framework for stablecoins. The GENIUS Act provides vital regulatory clarity, granting the Federal Reserve oversight and imposing strict compliance for issuers. Anchorage Digital, the only crypto-native firm with a federal banking charter, will now directly issue USDtb. Leveraging its specialized platform, Anchorage ensures seamless, compliant digital dollar operations. This strategic shift gives Ethena a stronger foothold in the U.S. stablecoin market and boosts investor confidence. Anchorage CEO Nathan McCauley highlighted the Act’s importance, enabling regulated institutions to participate in the stablecoin ecosystem with secure infrastructure. Ethena Labs CEO Guy Young noted strong demand for USDtb propelled this regulatory pivot. He anticipates GENIUS compliance will empower partners and holders, expanding its use across new products. USDtb, launched in December 2024, represents shares of BlackRock's tokenized BUIDL fund, a $2.4 billion fund primarily backed by short-term US Treasury bills. This collaboration marks a significant step towards robust regulation and mainstream adoption for U.S. digital assets.