Ethena Labs’ USDtb: A New Era for Stablecoins in the U.S.

In a groundbreaking move, Anchorage Digital and Ethena Labs have announced the launch of USDtb, the first stablecoin in the United States to comply with the newly enacted GENIUS Act. This partnership marks a significant milestone in the crypto industry, bringing a regulated digital dollar to the U.S. market.

A Strategic Partnership

Anchorage Digital, a pioneer in the crypto banking space, has teamed up with Ethena Labs to introduce USDtb. This collaboration leverages Anchorage Digital’s status as the first and only federally chartered crypto bank in the U.S., allowing it to issue USDtb onshore. The stablecoin, previously issued offshore, will now be available domestically, providing a regulated and compliant option for users and institutions alike.

Compliance with the GENIUS Act

The introduction of USDtb is particularly noteworthy as it is the first stablecoin to comply with the GENIUS Act. This legislation aims to ensure that stablecoins are backed by reserves and meet stringent regulatory standards. By aligning with these requirements, USDtb sets a new standard for stability and trust in the crypto market.

Market Impact and Opportunities

The launch of USDtb is expected to have a significant impact on the stablecoin market. With a market cap of approximately $146.5 million and a close price of $1.00018 as of July 22, 2025, USDtb is poised to attract attention from both retail and institutional investors. The stablecoin’s compliance with U.S. regulations makes it an attractive option for those seeking a secure and reliable digital asset.

Support from StablecoinX

In addition to the partnership with Anchorage Digital, Ethena Labs has garnered support from StablecoinX, a company planning to raise $360 million to acquire ENA tokens. This capital raise aims to bolster the Ethena ecosystem and support its listing on the Nasdaq under the ticker “USDE.” StablecoinX’s involvement underscores the growing interest and investment in Ethena Labs’ decentralized stablecoin model.

Looking Ahead

As USDtb makes its debut in the U.S. market, it represents a significant step forward for the integration of stablecoins into the mainstream financial system. The collaboration between Anchorage Digital and Ethena Labs, along with the backing from StablecoinX, positions USDtb as a leading player in the stablecoin space. With its compliance with the GENIUS Act and the support of key industry players, USDtb is set to redefine the landscape of digital currencies in the U.S.

As the crypto market continues to evolve, the launch of USDtb highlights the potential for regulated digital assets to coexist with traditional financial systems, offering new opportunities for innovation and growth.