Revolutionizing Stablecoins: Ethena Labs and Anchorage Digital Join Forces

The world of cryptocurrency just got a whole lot more interesting. Ethena Labs, a pioneering force in the crypto space, has teamed up with Anchorage Digital, a chartered crypto bank, to launch the first stablecoin that complies with the newly minted StableCoin Act of the United States, also known as the Genius Act. This groundbreaking partnership is set to shake up the stablecoin market and bring more regulatory clarity to the industry.

What’s the Big Deal About Stablecoins?

For those who may be new to the world of cryptocurrency, stablecoins are digital currencies that are pegged to the value of a traditional currency, like the US dollar. They’re designed to reduce the volatility associated with other cryptocurrencies, making them a more stable store of value. Ethena Labs’ USDTB is one such stablecoin, with a whopping $1.4 billion in tokens currently in circulation. The company’s goal is to bring this stablecoin to the US market, where it will be issued and regulated in accordance with the Genius Act.

Key Players and Partnerships

Ethena Labs and Anchorage Digital are the main players in this partnership. Anchorage Digital is a nationwide chartered crypto bank, which means it’s regulated by the US government and operates under the same rules as traditional banks. This partnership is a big deal because it will allow Ethena Labs to issue its USDTB stablecoin in the US, which will be a major milestone for the company. The Genius Act, signed into law on July 18, 2025, provides a regulatory framework for stablecoins in the US, and this partnership is one of the first to take advantage of this new legislation.

What is Ethena’s USDTB?

USDTB is one of two stablecoins offered by Ethena Labs, the other being Usde (US Dollar Equivalent). USDTB is a $1.4 billion token that’s currently traded offshore, with reserves that support it earning over $1.1 billion. The company plans to bring this stablecoin to the US market, where it will be issued and regulated through Anchorage Digital’s platform. This move will not only increase integration with the US financial system but also give Ethena Labs a competitive edge in a market dominated by players like Circle and Tether.

The Competitive Landscape

The stablecoin market is a crowded and competitive space, with Circle’s USDC and Tether’s USDT being two of the biggest players. However, with this partnership, Ethena Labs is poised to make a significant impact. The company’s CEO, Guy Young, notes that there’s already strong demand for USDTB, and compliance with the Genius Act will empower partners and holders to expand its use across new products and platforms. By partnering with Anchorage Digital, Ethena Labs is reinforcing the foundation needed to scale its product without compromising on speed, flexibility, or trust.

As the crypto space continues to evolve, partnerships like this one between Ethena Labs and Anchorage Digital will be crucial in shaping the future of stablecoins and the broader cryptocurrency market. With the Genius Act providing regulatory clarity and this partnership paving the way for more innovative solutions, it’s an exciting time for crypto enthusiasts and investors alike.