The federally chartered crypto bank will more than double its stablecoin division as it partners with Tether on a U.S.-compliant digital dollar.
Anchorage Digital Bank NA, the only U.S. federally chartered crypto-native bank, plans to more than double its stablecoin team of about 20 members over the next year. The move follows a partnership with Tether to launch USAT, a U.S.-compliant stablecoin, with Anchorage as the legal issuer and Cantor Fitzgerald LP managing reserve assets. The expanded team will focus on compliance, legal operations, and business development to drive institutional adoption. USAT’s initial distribution will include platforms like Rumble Inc., backed by Tether.