Decentralized Finance (Defi) Platform Ethena is set to bring its $ 1.5 billion stablecoin to the US market, working with Crypto Bank Anchorage Digital to issue the token according to the new stableecoin laws.
As part of the partnership announced by the companies on Wednesday, the Federally regulated Crypto Bank Anchorage will issue the USDTB tokenet directly in the United States under the Genius Act’s compliance standards.
It is a movement away from the Token’s current offshore issuing model, a step aimed at creating a path for institutions to hold and use the token within regulated financial channels.
“While we have already seen a strong demand for USDTB, we expect genius compliance to allow our partners and holders to confidential and significantly expand its use across new products and platforms,” said ETAA co-founder and CEO of the Development Organization Ethena Labs Guy Young in a statement.
Ethhenas Governance Token Ena (ENA) has risen by 9% over the last 24 hours, surpassing the wider crypto market, so many altcoins skip 5% -10% overnight. The market’s benchmark Coindesk 20 -Index fell 1.3% in the same period.
The move comes after President Trump signed the Genius Act in Law last week, a landmark crypto legislation that sets guidelines for stableecoins and issuers to operate in the country. Stableecoins are a $ 250 billion and fast -growing class of cryptocurrencies with their prices rooted in an external asset, predominantly to Fiat currency like the US dollar. Tether, issuer of the largest stableecoin USDT, also announced plans to enter the US market under the new law.
USDTB, which was introduced in December, aims to keep a stable $ 1 price and is mainly supported by the tokenized money market fund BUIDL, issued by BlackRock and Securitize. The token currently has a delivery of $ 1.45 billion at Ethereum Blockchain, per day. Rwa.xyz -Data. Ethena also emits USDE “Digital Dollar”, a token that generates dividends by mapping Bitcoin, Ether and sun -harvesting financing rates.
Read more: Crypto Treasury Fever spreads to Ethena like $ 360 m
