Anchorage Digital Selects Bank of America for Stablecoin Reserve Custody
Anchorage Digital Bank has appointed Bank of America to manage its stablecoin reserve assets, following its stablecoin platform launch in July 2025 under the U.S. GENIUS Act.
Summary
Bank of America has been selected to serve as the reserve custodian for Anchorage Digital Bank’s payment stablecoin assets, according to a Businesswire report. This decision follows Anchorage's launch of its stablecoin issuance platform in July 2025, which was made possible by the passage of the U.S. GENIUS Act. Anchorage had initially selected U.S. Bank for the custody role before transitioning to Bank of America.
Terms & Concepts
- Stablecoin: A type of cryptocurrency pegged to a stable asset, such as the U.S. dollar, to maintain a consistent value.
- Custody Partner: An institution responsible for holding and safeguarding financial assets on behalf of another party.
- GENIUS Act: A U.S. legislative act aimed at regulating digital assets and establishing a legal framework for cryptocurrency transactions.