- Anchorage plans to more than double its stablecoin team in anticipation of a new Tether-backed token launch.
- The new USAT stablecoin will be issued under Anchorage’s federal charter and comply with the Genius Act.
- The growing $300 billion stablecoin market is driving a global race for regulation, adoption, and talent.
Anchorage Digital Bank, the only crypto-native firm with a federal US banking charter, is preparing for one of its biggest moves yet in the world of digital finance. The Sioux Falls–based institution announced plans to more than double the size of its stablecoin team over the next year, a bold step reflecting how quickly digital dollars are moving from niche markets to mainstream finance.
With stablecoins now valued at nearly $300 billion in circulation, Anchorage is positioning itself at the center of a fast-growing sector that regulators and investors alike are paying close attention to.
Tether Joins Forces With Anchorage Under New Federal Framework for Stablecoins
The bank’s expansion comes on the heels of its partnership with Tether Holdings, the company behind the world’s largest stablecoin. Together, they plan to launch a new U.S.-compliant token called USAT before the end of the year. Under the agreement, Anchorage will act as the legal issuer, while Cantor Fitzgerald LP will oversee the reserves. Unlike earlier partnerships where Tether played a supporting role, this project will rely directly on Tether’s Hadron tokenization platform, keeping the company firmly involved in both the technology and strategy.
Anchorage CEO Nathan McCauley explained that discussions with Tether began about eighteen months ago when lawmakers in Washington were drafting the Genius Act. Signed into law in July, the Act requires stablecoins with circulation above $10 billion to be issued under federal oversight, while smaller projects can remain under state regulation. According to McCauley, many policymakers viewed the legislation as a way to directly address the role of Tether in U.S. markets, signaling the importance of this partnership.
A Growing Stablecoin Market Fuels Competition for Talent and Innovation
Stablecoins are cryptocurrencies designed to maintain a stable value, typically by linking their worth to the U.S. dollar or other assets. They have gained traction as banks, regulators, and major investors acknowledge their role in payments, trading, and financial infrastructure. Bloomberg Intelligence projects that stablecoins could support more than $50 trillion in annual payment flows by 2030, highlighting their potential impact on the global economy.
For Anchorage, this growth means doubling down on expertise. The bank’s stablecoin team, currently around 20 members, will expand significantly to handle compliance, legal operations, and business development for USAT. Initial distribution plans include integration with platforms like Rumble Inc., a video-sharing site backed by Tether, while long-term goals involve securing institutional adoption. This hiring spree reflects the intense competition for skilled professionals in crypto finance, where demand is outpacing supply and salaries are rising fast.
Global Regulation Signals New Opportunities for Stablecoins
Anchorage’s expansion also reflects the global momentum around clearer regulation for digital assets. In regions like the European Union and the United States, new laws are opening doors for financial institutions to participate without the uncertainty that once surrounded crypto. South Korea has also announced plans to roll out rules for won-backed stablecoins by October 2025 as part of its Virtual Asset User Protection Act. These moves suggest that stablecoins are no longer an experimental niche but a building block of the next financial era.
Meanwhile, Tether itself is pursuing a private fundraising round that could bring in as much as $20 billion, aiming for a staggering $500 billion valuation. Such figures place the firm among the world’s most highly valued private companies, reflecting investor confidence in stablecoins’ role as a bridge between traditional money and digital finance.
