Anchorage prepares for Tether's USAT launch by doubling staff
Anchorage Digital Bank NA will more than double its stablecoin unit as it prepares to issue Tether's new U.S.-regulated stablecoin USAT under its federal banking charter, Bloomberg reports. The expansion comes ahead of USAT's planned year-end debut.
Anchorage remains the only crypto-native company with a U.S. federal bank charter. The bank will scale its stablecoin team to handle issuance, risk management, and compliance functions for USAT, a dollar-backed token designed for American users. The expansion leverages new authority under the GENIUS Act, which created a federal framework for stablecoins and allows federally chartered issuers to operate nationwide.
Tether announced on September 12 that USAT will be a U.S.-focused, GENIUS-compliant stablecoin. Anchorage will handle issuance while Cantor Fitzgerald will manage reserves and related funds. Tether plans to headquarter the USAT business in Charlotte, North Carolina.
The federal charter gives Anchorage significant advantages over state-chartered competitors. While state-chartered issuers face a $10 billion cap under the GENIUS Act, Anchorage's federal license carries no issuance limit. The bank can scale issuance without state-by-state restrictions if USAT gains adoption."
The GENIUS Act laid out the vision for U.S. stablecoin leadership—now, Anchorage Digital and Tether are making it a reality," said Anchorage CEO Nathan McCauley when the partnership was announced. McCauley noted that Anchorage will manage issuance, reserves, and compliance for USAT.
Tether has been expanding its U.S. presence beyond the global USDT token. The company has added senior leadership and explored a major private funding round that could value it in the hundreds of billions. Recent reports highlighted these expansion plans as Tether pushes deeper into the American market.
Anchorage outlined in August that its federal bank status enables white-label stablecoin issuance aligned with the GENIUS Act. The July passage of the act created demand for compliant stablecoin infrastructure, driving Anchorage's team expansion.
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