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Anchorage Digital Partners with Ethena Labs to Launch the First GENIUS-Compliant; Federally Regulated Stablecoin
Anchorage Digital Partners with Ethena Labs to Launch the First GENIUS-Compliant; Federally Regulated Stablecoin

Business Upturn

time5 days ago

  • Business
  • Business Upturn

Anchorage Digital Partners with Ethena Labs to Launch the First GENIUS-Compliant; Federally Regulated Stablecoin

Business Wire India Anchorage Digital, home to the first and only federally chartered crypto bank, today announced a strategic partnership with Ethena Labs, the creator of USDe and USDtb, to bring USDtb to the U.S. as the first-ever stablecoin with a clear pathway to becoming compliant with the recently enacted GENIUS Act—America's new law to regulate issuance of stablecoins. The launch will be the first to leverage Anchorage Digital's stablecoin issuance platform—a turnkey solution for institutions to launch and distribute fully regulated digital dollars. Anchorage Digital's decision to partner with Ethena, a project focused on developing secure, compliance-driven rails and products that provide institutional investors with access to the unique advantages of digital assets, marks a significant step forward in aligning innovation with regulation in the U.S. financial system. Under the partnership, the USDtb stablecoin—which is currently issued offshore—will be issued in the U.S. by Anchorage Digital Bank, positioning the firm as the leading U.S. stablecoin issuer for institutions seeking compliant, programmable, digital dollars aligned with the highest regulatory standards set by the GENIUS Act. Issuing this stablecoin under the U.S.-compliant framework enables smoother integration with the U.S. financial system and provides institutions with more accessible, regulated pathways to hold USDtb. 'The passage of the GENIUS Act provides the regulatory clarity that enables federally regulated institutions like Anchorage Digital Bank to fully participate in the stablecoin ecosystem. We're proud to support Ethena in bringing their product to the U.S.—helping deliver even greater transparency and confidence to their partners. As stablecoins become a foundational layer of modern finance, it's essential they're built on infrastructure that's secure, compliant, and built to last.' — Nathan McCauley, CEO and Co-Founder of Anchorage Digital 'While we've already seen strong demand for USDtb, we expect GENIUS compliance to empower our partners and holders to confidently and significantly expand its use across new products and platforms. By partnering with Anchorage Digital—the only federally regulated crypto bank in the United States—we reinforce the foundation needed to continue scaling the product without compromising on speed, flexibility, or trust.' — Guy Young, CEO of Ethena Labs Stablecoins are quickly becoming the lifeblood of the future of finance—both in America and globally—powering everything from real-time settlement and cross-border payments to next-generation fintech infrastructure and decentralized markets. By enabling safe, scalable, and regulated issuance, Anchorage Digital is helping ensure that this foundational layer of modern finance is built on trust, resilience, and U.S. leadership. About Ethena Labs Ethena Labs is the creator of USDe and USDtb and a contributor to the Ethena protocol. Ethena is the protocol behind USDe, the third-largest and fastest growing USD-denominated crypto asset in history with over $6 billion in TVL today across one of the largest sets of DeFi users, alongside integrations with some of the largest centralized exchanges and major DeFi applications. Ethena Labs is backed by Fidelity, Franklin Templeton, Dragonfly, Binance Labs, Bybit and OKX among others. About Anchorage Digital Anchorage Digital is a global crypto platform that enables institutions to participate in digital assets through trading, staking, custody, governance, settlement, stablecoin issuance, and the industry's leading security infrastructure. Home to Anchorage Digital Bank N.A., the only federally chartered crypto bank in the U.S., Anchorage Digital also serves institutions through Anchorage Digital Singapore, which is licensed by the Monetary Authority of Singapore; Anchorage Digital NY, which holds a BitLicense from the New York Department of Financial Services; and self-custody wallet Porto by Anchorage Digital. Recently, through the enactment of GENIUS, Anchorage Digital Bank became the only U.S., federally regulated and GENIUS-compliant stablecoin issuer bank. The company is funded by leading institutions including Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa, with its Series D valuation over $3 billion. Founded in 2017 in San Francisco, California, Anchorage Digital has offices in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota. Learn more at on X @Anchorage, and on LinkedIn. View source version on Disclaimer: The above press release comes to you under an arrangement with Business Wire India. Business Upturn take no editorial responsibility for the same. Ahmedabad Plane Crash

Ethena Taps Anchorage to Issue $1.5B USDtb Stablecoin Under GENIUS Act
Ethena Taps Anchorage to Issue $1.5B USDtb Stablecoin Under GENIUS Act

Yahoo

time5 days ago

  • Business
  • Yahoo

Ethena Taps Anchorage to Issue $1.5B USDtb Stablecoin Under GENIUS Act

Decentralized finance (DeFi) platform Ethena is set to bring its $1.5 billion stablecoin to the U.S. market, teaming up with crypto bank Anchorage Digital to issue the token under the new stablecoin laws. As part of the partnership the firms announced on Wednesday, federally regulated crypto bank Anchorage will issue the USDtb token directly in the U.S. under the GENIUS Act's compliance standards. That's a move away from the token's current offshore issuance model, a move that aims to create a pathway for institutions to hold and use the token within regulated financial channels. "While we've already seen strong demand for USDtb, we expect GENIUS compliance to empower our partners and holders to confidently and significantly expand its use across new products and platforms," Ethena co-founder and CEO of development organization Ethena Labs Guy Young said in a statement. Ethena's governance token ENA (ENA) is up 9% over the past 24 hours, outperforming the broader crypto market that saw many altcoins plunge 5%-10% overnight. The market benchmark CoinDesk 20 Index was down 1.3% during the same period. The move comes after President Trump signed the GENIUS Act into law last week, a landmark crypto legislation that sets guidelines for stablecoins and issuers to operate in the country. Stablecoins are a $250 billion and rapidly growing class of cryptocurrencies with their prices anchored to an external asset, predominantly to fiat currencies like the U.S. dollar. Tether, issuer of the largest stablecoin USDT, also announced plans to enter the U.S. market under the new law. USDtb, introduced in December, aims to keep a stable $1 price and is backed predominantly by tokenized money market fund BUIDL, issued by BlackRock and Securitize. The token currently has a $1.45 billion supply on the Ethereum blockchain, per data. Ethena also issues the USDe "digital dollar," a token that generates yield by shorting bitcoin, ether and SOL harvesting funding while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

Ethena launches $360m treasury play that buys locked tokens
Ethena launches $360m treasury play that buys locked tokens

Yahoo

time6 days ago

  • Business
  • Yahoo

Ethena launches $360m treasury play that buys locked tokens

Another day, another company buying millions of dollars in cryptocurrencies. On Monday, the Ethena Foundation, the non-profit organisation backing the stablecoin project Ethena, announced the founding of a new company called StablecoinX to buy up the project's native ENA tokens. StablecoinX will merge with TLGY Acquisition Corp., a special purpose acquisition company, with plans to list under the ticker USDE on the Nasdaq. Treasury trend meets stablecoins Though hundreds of crypto treasury companies have hit this market this year, Guy Young, the co-founder of Ethena, says StablecoinX's proximity to the booming stablecoin trend will make the venture even more attractive to investors. Upon listing, shares in Circle, the issuer of the second-largest stablecoin and only publicly traded stablecoin firm on the market, soared more than 160% on their first day of trading. Young says there's plenty of room for more offerings of the same. 'It was obvious to us that the demand for issuers of digital dollars or stablecoins was obviously far in excess of the supply of different ways that investors could get access,' he told DL News. So far, the new venture has raised $360 million to execute its Ethena buying spree through the sale of company shares, with funding from Galaxy Digital, Pantera Capital, and Haun Ventures, among others. ENA buying spree Of the $360 million raised, StablecoinX sold $100 million in shares in exchange for locked ENA tokens, with the remaining $260 million denominated in cash. Over the next six weeks, the company will spend $260 million to buy up more locked ENA tokens from the Ethena Foundation. The Ethena Foundation will then use the proceeds from the sale of locked tokens to buy spot Ethena tokens. Any capital allocation decisions must be made with the approval of the Ethena Foundation. The company cannot sell or lend tokens without the direct approval from the foundation. 'It's a cool outcome where you can get something that looks like a permanent capital vehicle, which is really just sucking up and absorbing tokens with no real intention to sell it going forward,' said Young. So far, investors are buying it. The Ethena token is up over 50% in the past week. Update, July 22: The headline has been updated to improve accuracy. Zachary Rampone is a DeFi correspondent at DL News. Have a tip? Contact him at zrampone@

OnRe, Backed by Ethena, Solana Ventures, and RockawayX Launches Structured Yield Product Combining Real-World Stability and On-Chain Upside
OnRe, Backed by Ethena, Solana Ventures, and RockawayX Launches Structured Yield Product Combining Real-World Stability and On-Chain Upside

Business Mayor

time22-05-2025

  • Business
  • Business Mayor

OnRe, Backed by Ethena, Solana Ventures, and RockawayX Launches Structured Yield Product Combining Real-World Stability and On-Chain Upside

Advertisment LONDON , May 22, 2025 /PRNewswire/ — Today, OnRe, the leading regulated on-chain reinsurance company, launches its ONe token. ONe is an accumulating token for LPs, currently offering projected returns of up to 40.35% consisting of reinsurance performance, collateral yield, and token incentives. OnRe unlocks previously inaccessible yield from the $750 billion global reinsurance market, and combines it with the digital asset market's unique return attributes, resulting in a stable and scalable product. Through its partnership with Ethena, OnRe allows users to deposit sUSDe into a reinsurance pool on Solana. Deposited sUSDe flows into a balanced reinsurance portfolio, carefully underwritten by OnRe's underwriting and actuarial experts, then allocated across diversified insurance lines to generate uncorrelated yields. This enables on-chain capital markets to utilize this real-world asset class as liquid collateral across the ecosystem. 'OnRe provides the perfect real-world use case for sUSDe, allowing over $6bn in stable capital to earn additional, meaningful yield by deploying into one of the world's most established financial systems. This partnership sets the stage for a new era of capital efficiency, transforming deposits into productive, yield-generating assets while opening a market that has long been out of reach for most investors.' — Guy Young , Founder of Ethena Labs . OnRe's blockchain-native structured product unlocks capabilities unreplicable in traditional finance, including upside participation through on-chain funding rates and integrations with other DeFi protocols to enhance capital efficiency. In bearish markets, OnRe delivers consistent, stable yield through reinsurance exposure, independent of crypto and equity downturns. In bullish conditions, elevated on-chain funding rates and token incentives from sUSDe and the $ONRE protocol token offer meaningful upside potential. ONe is directly tied to a regulated, revenue-generating business, setting it apart from DeFi tokens that rely on emissions or abstract governance mandates. Its value is linked to TVL, backed by real-world underwriting, and aligned with long-term platform growth. The project's revenue dynamics are appealing, with the ability to generate the same income from $10M in TVL as a $500M money market fund. Rising on-chain capital flows, driven by stablecoin adoption and investor demand for lower-volatility yield, make for ideal launch timing. With support from RockawayX, a seed investor in Solana and backer of 15+ of the ecosystem's leading projects, and the Solana Foundation, OnRe's integration roadmap will offer pool investors the potential for additional returns through DeFi composability, such as the ability to use the pool deposit receipt as borrow collateral on lending platforms. 'We pursue DeFi products that offer a substantially superior risk and return profile or user experience to traditional alternatives, and OnRe definitely fits the bill, with predictable returns in bearish environments, and meaningful upside in bullish times. Active participants will leverage OnRe's integrations across Solana DeFi, with projects like Kamino, Exponent, and Fragmetric, making reinsurance a key on-chain portfolio building block. Better yet, the reinsurance industry is sorely in need of a digital lift, and we see OnRe accelerating a leapfrog step forward.' — Samantha Bohbot , Partner & Chief Growth Officer of RockawayX. 'Innovation doesn't happen overnight or in isolation. The launch of OnRe is the result of powerful partnerships and scalable technology, creating something genuinely new in digital assets and insurance. It's a model that's rigorously tested, securely designed, and fully compliant. I'm excited to see ONe scale as a reliable collateral asset year-round, giving digital asset markets access to the strong, stable returns of insurance — one of the world's largest and most profitable industries.' — Dan Roberts , Co-Founder and CEO of OnRe. Backed by deep expertise and full regulatory approval, OnRe sets a new benchmark for allocators seeking reliable, cycle-resilient returns. Visit for early investor incentives and and sign up to secure first access to upcoming rewards. About OnRe OnRe bridges the reliability of the $750bn global reinsurance market with the transformative power of blockchain. Licensed to deploy digital assets as insurance collateral, OnRe provides a new class of investors with direct access to consistent real-world yield through structured products designed to generate returns in both bull and bear markets — creating a return profile not replicable in traditional finance. With a focus on transparency, scalability, and capital efficiency, OnRe is transforming how capital is deployed, bringing opportunity to a system that has historically been out of reach. Contact: Sarah George Heads of Operations sarah@

OnRe, Backed by Ethena, Solana Ventures, and RockawayX Launches Structured Yield Product Combining Real-World Stability and On-Chain Upside
OnRe, Backed by Ethena, Solana Ventures, and RockawayX Launches Structured Yield Product Combining Real-World Stability and On-Chain Upside

Cision Canada

time21-05-2025

  • Business
  • Cision Canada

OnRe, Backed by Ethena, Solana Ventures, and RockawayX Launches Structured Yield Product Combining Real-World Stability and On-Chain Upside

LONDON, May 21, 2025 /CNW/ -- Today, OnRe, the leading regulated on-chain reinsurance company, launches its ONe token. ONe is an accumulating token for LPs, currently offering projected returns of up to 40.35% consisting of reinsurance performance, collateral yield, and token incentives. OnRe unlocks previously inaccessible yield from the $750 billion global reinsurance market, and combines it with the digital asset market's unique return attributes, resulting in a stable and scalable product. Through its partnership with Ethena, OnRe allows users to deposit sUSDe into a reinsurance pool on Solana. Deposited sUSDe flows into a balanced reinsurance portfolio, carefully underwritten by OnRe's underwriting and actuarial experts, then allocated across diversified insurance lines to generate uncorrelated yields. This enables on-chain capital markets to utilize this real-world asset class as liquid collateral across the ecosystem. "OnRe provides the perfect real-world use case for sUSDe, allowing over $6bn in stable capital to earn additional, meaningful yield by deploying into one of the world's most established financial systems. This partnership sets the stage for a new era of capital efficiency, transforming deposits into productive, yield-generating assets while opening a market that has long been out of reach for most investors." — Guy Young, Founder of Ethena Labs. OnRe's blockchain-native structured product unlocks capabilities unreplicable in traditional finance, including upside participation through on-chain funding rates and integrations with other DeFi protocols to enhance capital efficiency. In bearish markets, OnRe delivers consistent, stable yield through reinsurance exposure, independent of crypto and equity downturns. In bullish conditions, elevated on-chain funding rates and token incentives from sUSDe and the $ONRE protocol token offer meaningful upside potential. ONe is directly tied to a regulated, revenue-generating business, setting it apart from DeFi tokens that rely on emissions or abstract governance mandates. Its value is linked to TVL, backed by real-world underwriting, and aligned with long-term platform growth. The project's revenue dynamics are appealing, with the ability to generate the same income from $10M in TVL as a $500M money market fund. Rising on-chain capital flows, driven by stablecoin adoption and investor demand for lower-volatility yield, make for ideal launch timing. With support from RockawayX, a seed investor in Solana and backer of 15+ of the ecosystem's leading projects, and the Solana Foundation, OnRe's integration roadmap will offer pool investors the potential for additional returns through DeFi composability, such as the ability to use the pool deposit receipt as borrow collateral on lending platforms. " We pursue DeFi products that offer a substantially superior risk and return profile or user experience to traditional alternatives, and OnRe definitely fits the bill, with predictable returns in bearish environments, and meaningful upside in bullish times. Active participants will leverage OnRe's integrations across Solana DeFi, with projects like Kamino, Exponent, and Fragmetric, making reinsurance a key on-chain portfolio building block. Better yet, the reinsurance industry is sorely in need of a digital lift, and we see OnRe accelerating a leapfrog step forward." — Samantha Bohbot, Partner & Chief Growth Officer of RockawayX. " Innovation doesn't happen overnight or in isolation. The launch of OnRe is the result of powerful partnerships and scalable technology, creating something genuinely new in digital assets and insurance. It's a model that's rigorously tested, securely designed, and fully compliant. I'm excited to see ONe scale as a reliable collateral asset year-round, giving digital asset markets access to the strong, stable returns of insurance — one of the world's largest and most profitable industries." — Dan Roberts, Co-Founder and CEO of OnRe. Backed by deep expertise and full regulatory approval, OnRe sets a new benchmark for allocators seeking reliable, cycle-resilient returns. Visit for early investor incentives and and sign up to secure first access to upcoming rewards. About OnRe OnRe bridges the reliability of the $750bn global reinsurance market with the transformative power of blockchain. Licensed to deploy digital assets as insurance collateral, OnRe provides a new class of investors with direct access to consistent real-world yield through structured products designed to generate returns in both bull and bear markets — creating a return profile not replicable in traditional finance. With a focus on transparency, scalability, and capital efficiency, OnRe is transforming how capital is deployed, bringing opportunity to a system that has historically been out of reach.

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