Less than a week after the adoption of the Genius law, two giants in the financial sector, Digital Anchorage and Ethena Labs, united their forces to launch an American version of the Stablecoin Offshore USDTB. This digital dollar thus becomes the first stablecoin to be issued in accordance with this new Stablecoin regulation law.
In short
- USDTB becomes the first stablecoin launched under the recently adopted Genius law, establishing a new standard for compliance in the United States.
- Ethena Labs will issue the USDTB via Digital Bank Anchorage, the only digital asset bank approved at the Federal level in the United States.
- The Genius law imposes strict rules in terms of reserves, audits and licenses, resulting in growth of $ 4 billion in the Stablecoins market since its adoption.
- Industry giants such as JPMorgan and Bank of America are showing an increasing interest in the issue of Stablecoins following this new law.
The launch of a new stablecoin marks a major advance towards regulatory compliance in the United States
As part of the recent partnership, Ethena Labs will now issue the Stablecoin USDTB in the United States via Digital Bank Anchoration, thus becoming the first stablecoin with a clear framework aimed at complying with the Genius law.
This recently promulgated law facilitates the integration of stablecoins into the American financial system by providing them with a defined regulatory framework. By issuing this offshore digital dollar according to the provisions of the Genius law, the institutions now have a compliant path to hold and issue the USDTB on American soil.
This partnership represents an important step in the rapprochement between crypto innovation and federal policies. The two companies stressed that this initiative aims to strengthen the security, transparency and compliance of the sector.
Ethena Labs, transmitter of the Stablecoins USDE and USDTB, currently manages more than $ 6 billion in total locked value (TVL), making it one of the largest cryptocurrencies indexed to the dollar in the world. The company also benefits from the support of trucks in the sector such as Fidelity and Franklin Templeton.
The leaders insist on confidence and compliance
Anchorage Digital, the only crypto bank approved at the federal level in the United States, described this collaboration as a major turning point.
Commenting on this recent development, the CEO of Anchorage, Nathan McCauley, stressed the importance and good time of this initiative. McCauley explained that the Genius law offers the essential regulatory structure in which institutions such as digital bank anchorage can participate in the Stablecoins sector.
He insisted on the need to operate these digital dollars in an infrastructure that is both secure, sustainable and compliant, while they become a pillar of modern finance.
We are proud to support Ethena in the introduction of their product in the United States-helping to offer more transparency and confidence to their partners.
Nathan McCauley, CEO and Digital Anchorage Co -founder
In this launch, Ethena Labs will use the turnkey turnkeywhich allows the facilitated creation and distribution of stablecoins in accordance with American standards.
For his part, Guy Young, CEO of Ethena Labs, praised this collaboration and expressed his confidence in his long -term potential. According to him, this approach in accordance with the regulations will strengthen the confidence of partners and holders, while expanding the user base of USDTB.
He added that this partnership with Anchorage provides the foundations necessary to develop the product without compromising the key elements.
The Genius law stimulates growth and institutional adoption
Recently adopted, the Genius law aims to provide an environment regulated for the issue of Stablecoins.
Here is what the Genius law stipulates:
- Two regulation paths : transmitters can choose a federal license or operate under a regime approved by a state.
- States supervision for small issuers : States can regulate issuers with less than $ 10 billion in circulation, subject to an agreement with a federal committee.
- Strict reserve requirements : Stablecoins must be guaranteed 100 % by liquidity or short -term US treasury bills.
- Rehypothecation prohibition : transmitters cannot lend or reuse reserve funds.
- Mandatory monthly audits : Independent audits must be made every month.
- Responsibility of leaders : CEOs and financial directors must certify reserve reports.
- Specific status : The stablecoins used for payments are not considered as titles or goods (outside the field of the dry and the CFTC).
Since the adoption of the law, the Stablecoins ecosystem has experienced new momentum. Since July 18, the capitalization of the Stablecoins market has jumped more than $ 4 billion to reach 264 billion, one of the fastest growth ever observed in the sector. Ethena's native token, ENA, also jumped more than 43 % last week, reaching $ 0.57 at the time of writing.
The main companies in the financial sector reacted to this new opportunity, Bank of America having announced its plans to explore a stablecoin indexed to the dollar. Other major players such as JPMorgan and Citigroup have also declared their interest in the issue of Stablecoins. While the Stablecoins sector continues to expand, the launch in accordance with the Genius Digital Anchorage Law offers a model to transmitters wishing to operate in the United States.
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