Ethena’s USDtb Goes Onshore as First GENIUS-Compliant Stablecoin via Anchorage Digital
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Ethena Labs’ USDtb, a synthetic dollar stablecoin offering yield, is set to become the first GENIUS Act-compliant token issued in the US through Anchorage Digital Bank.
USDtb diverges from conventional stablecoins by using BlackRock’s BUIDL and crypto collateral to maintain its peg while generating returns. Since its offshore debut, it has amassed $1.45 billion in TVL.
Anchorage’s involvement means USDtb will now be minted and redeemed under federal oversight—a key milestone for regulatory clarity. The bank’s platform will serve as a turnkey solution for compliant stablecoin distribution.
The GENIUS Act, signed last week, is poised to unlock institutional demand for programmable, yield-bearing dollar tokens like USDtb.
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