Tether has officially selected Anchorage Digital Bank NA, the only federally chartered digital asset bank in the United States, as its partner to issue the new Tether USAT stablecoin. The announcement, made Monday, September 15, 2025, marks a critical step in Tether’s strategy to launch a fully compliant U.S. stablecoin. Under the partnership, Anchorage Digital will manage the issuance, reserve management, and financial compliance for USAT, which is designed to adhere to the standards of the recently passed GENIUS Act.

• The world's largest stablecoin issuer is joining forces with the only federally chartered digital asset bank in the U.S.
• This partnership is being hailed as the new "gold standard" for the American stablecoin market.
• Learn the specific roles each company will play in the issuance and management of the new USAT token.

This collaboration represents a landmark fusion of two power players from different ends of the digital asset spectrum. Tether is the undisputed giant of the global stablecoin market, with its USDT token commanding over $160 billion in circulation and serving as the primary liquidity backbone for offshore crypto trading. On the other side, Anchorage Digital holds a unique and powerful position as the only crypto-native firm to receive a national trust bank charter from the Office of the Comptroller of the Currency (OCC). This partnership, therefore, combines Tether’s massive scale and ecosystem with the highest level of regulatory standing available in the United States today.

The involvement of a federally chartered bank is the key differentiator for the Tether USAT project. Unlike state-level trust charters or money transmitter licenses, a national bank charter subjects Anchorage Digital to the same rigorous federal oversight as major U.S. banks. This provides an unparalleled level of institutional trust, bankruptcy protection for assets, and regulatory certainty. This is the "gold standard" that Anchorage Digital's CEO, Nathan McCauley, referenced, and it is specifically designed to quell the concerns that have historically kept large, conservative financial institutions on the sidelines of the stablecoin market.

Under the terms of the partnership, the division of labor is clear. Tether will drive the brand, strategy, and ecosystem integration for Tether USAT, leveraging its global network and market expertise. Anchorage Digital will serve as the regulated engine, responsible for the critical infrastructure. This includes the minting and burning of USAT tokens, the management of the 1:1 reserve assets to ensure full backing, and the implementation of robust compliance programs that adhere to the strict standards mandated by the GENIUS Act and other U.S. banking laws. This structure allows Tether to enter the U.S. market while ensuring its operations are managed by a federally supervised entity.

This move is a direct consequence of the rapidly maturing regulatory landscape in the United States. Following the initial announcement of the USAT project and the appointment of ex-White House adviser Bo Hines, this partnership is the next logical step in executing a compliance-first strategy. It demonstrates how the new clarity provided by the GENIUS Act and a more collaborative approach from regulators, as seen in the recent joint SEC/CFTC statement, is enabling major players to build regulated products onshore.

The launch of a fully compliant Tether USAT is set to intensify competition in the domestic U.S. stablecoin market, which has long been dominated by Circle's USDC. While USDC has established itself as a trusted and regulated asset, Tether's partnership with a federally chartered bank introduces a new level of regulatory gravitas. This healthy competition is expected to benefit consumers and institutions by driving innovation, potentially lowering transaction costs, and providing more choice for regulated, on-chain U.S. dollars.

Ultimately, a trusted and federally overseen U.S. stablecoin is a foundational building block for the entire digital asset economy. It serves as the stable, on-chain settlement currency required for the trading of other tokenized assets. The development of robust stablecoins is critical for the vision of a tokenized future, a trend underscored by Nasdaq's recent filing to trade tokenized stocks, as such a market would rely on a reliable on-chain dollar for settlement. By partnering with Anchorage Digital, Tether is not just launching another token; it is building a core piece of infrastructure for the future of American finance.

Expert Opinions and Quotes

“The GENIUS Act laid out the vision for U.S. stablecoin leadership—now, Anchorage Digital and Tether are making it a reality,” said Nathan McCauley, chief executive officer of Anchorage Digital - Source

FAQs

What is the partnership between Tether and Anchorage Digital?
Tether has selected Anchorage Digital, a federally chartered digital asset bank, to be the official issuer and reserve manager for its new Tether USAT stablecoin, which is targeted at the U.S. market.

Why is Anchorage Digital's involvement significant?
As the only federally chartered digital asset bank, Anchorage Digital provides the highest level of regulatory oversight and institutional trust in the U.S. crypto space, making the Tether USAT project a top-tier regulated U.S. stablecoin.

How will Tether USAT comply with U.S. regulations?
The new stablecoin is specifically designed to be compliant with the GENIUS Act, a new federal law governing stablecoins. Anchorage Digital will manage its issuance and reserves to ensure it meets these and other U.S. banking standards.

What is the difference between USDT and the new Tether USAT?
USDT is Tether's flagship stablecoin that primarily serves the global, offshore market. Tether USAT is a new, separate U.S. stablecoin built from the ground up to be fully compliant with U.S. laws and regulations, and it will be issued by a federally chartered bank.