Latest news with #USDe
Business Upturn
5 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
National Post
6 days ago
- Business
- National Post
Anchorage Digital Partners with Ethena Labs to Launch the First GENIUS-Compliant; Federally Regulated Stablecoin
Article content SAN FRANCISCO — 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. Article content 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. Article content 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. Article content '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. Article content About Ethena Labs Article content 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. Article content About Anchorage Digital Article content 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. Article content Article content Article content Article content Contacts Article content Anchorage Digital Article content press@ Article content Article content Article content
Yahoo
21-07-2025
- Business
- Yahoo
Crypto Treasury Fever Spreads to Ethena as $360M SPAC Deal Targets ENA Accumulation
A new company called StablecoinX aims to be the first public firm to accumulate decentralized finance (DeFi) protocol Ethena's ENA (ENA) token after raising $360 million as the crypto treasury trend expands to altcoins. Nasdaq-listed shell company TLGY Acquisition Corp. and Ethena-focused validator operator startup SC Assets said Monday they plan to merge to form the new company, which will be listed under the "USDE" ticker. The transaction is expected to close in late 2025, according to a press release. StablecoinX plans to raise $360 million in a private investment in public equity (PIPE) round from a group of investors including Pantera Capital, Dragonfly, Galaxy Digital, Polychain and the companies said. Of the new funding, $100 million is provided in locked-up ENA tokens at a discount, while $260 million is in cash that can be used to purchase more locked ENA from an Ethena Foundation subsidiary. For its part, the foundation said the subsidiary is starting a token buyback program to acquire $260 million worth of ENA tokens directly from exchanges. ENA jumped to as high as $0.58 on the news before paring some of the advance. It is roughly 5% higher over the past 24 hours. The announcement comes as Wall Street's crypto treasury fever is heating up, spreading from bitcoin (BTC) to solana (SOL) and ether (ETH) as well as smaller altcoins. Ethena is a DeFI protocol known for its $6 billion "digital dollar," USDe, which generates yield by holding spot BTC, ETH and SOL and shorting an equivalent amount of derivatives harvesting the funding rate. The protocol's native token ENA serves as a governance token giving holders the right to have a say in decision-making. ENA has been one of the best-performing cryptocurrency over the past few days, rallying 65% over the past week. Apart of the fresh demand coming from the treasury strategy and token buyback, the protocol is also benefitting from renewed interest in USDe as yields increase due to rising perp funding in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-07-2025
- Business
- Yahoo
Ethena's ENA Soars 20% as Protocol Sees $750M Inflow Amid Rising Crypto Funding Rates
Ethena's token ENA (ENA) surged on Sunday to its highest price in four months, as the decentralized finance (DeFi) protocol behind the token saw a fresh wave of inflows amid a broader crypto rally. The token, which serves as the governance token for Ethena, advanced roughly 20% during the day to over $0.50, topping that level for the first time since early February, according to CoinDesk data. Ethena is benefiting from the recent surge in crypto prices, generating higher yields for investors. The protocol issues the dollar-pegged USDe, marketed as a "synthetic dollar" with its price anchored at $1. It uses bitcoin (BTC), ether (ETH) and Solana's SOL (SOL)as backing assets, pairing them with an equal value of short perpetual futures positions on exchanges. The strategy generates revenue on its backing derivative assets when the perpetual funding rates are positive and passes on some of the income as yield to investors. Funding rates rose over the past few days after a long spell of near-neutral levels, CoinGlass data shows. The protocol's strategy now pays out almost 10% annualize yield to investors, more than double what money market funds pay out as a risk-free rate. Amid higher yields, the protocol's USDe attracted over $750 million in fresh inflows through the last few days, per DefiLlama data. At $6.09 billion supply, USDe is just shy below its February record supply of $6.1 billion, the project's dashboard shows.
Yahoo
16-07-2025
- Business
- Yahoo
DeFi in Q2 Review: The New Gold Rush Is… Stablecoins?
Everyone's rushing into stablecoins, but the numbers look... the same. In Q2, it felt like you couldn't go a day without a major stablecoin announcement. JPMorgan launched its USD Deposit Token on Base. Coinbase debuted its stablecoin payment stack following the Shopify partnership. Anchorage Digital acquired USDM issuer Mountain Protocol. Ubyx raised $10 million for stablecoin clearing infrastructure. Bitcoin-based Plasma filled its $1 billion deposit cap in 30 minutes. All within weeks of each other. But despite all this activity, stablecoins remain a brutally concentrated, 'winner takes most' market. Of the roughly $250 billion in circulating stablecoin supply, Tether claims $158 billion (2.5x Circle's $62 billion), while USDC dwarfs the third-largest dollar-pegged asset, USDe ($5.3 billion), by 11x. While yield-bearing stablecoins and tokenized treasury products like USDe, sUSDS, BUIDL, and M0 create new competition vectors, distribution still wins. The ultimate winner won't be determined by the highest yield from a novel mechanism, but by distribution and utility. The most valuable stablecoin will be the one that is seamlessly integrated, trusted, and accepted everywhere. I have no doubt that lots of money will continue to flow into stablecoins as 'dollars on a blockchain' have established themselves as one of the largest markets to be won in crypto. Though the more interesting question to me is how do you help users make use of their stablecoins once they hold them? Mini Apps: Mobile-First Crypto Finally Arrives For years, DeFi's complexity has been its greatest barrier to adoption. Q2 marked a turning point as the industry rallied around a new access layer: mini apps. Coinbase Wallet (building on the Farcaster Frames framework) invested in revamping Coinbase Wallet into a Mini App platform. World's mini-app ecosystem exploded and caught builder attention. Opera launched its standalone MiniPay app for iOS and Android. The strategy is clear: embed DeFi's power within familiar, user-friendly interfaces. Mini-apps are finally dragging DeFi into the mobile age. Unlike previous cycles, UX isn't an afterthought—UX is the product. Platforms with distribution now aspire to become superapp-like structures where developers fight to tap into captive user bases, much like WeChat in China. By abstracting away gas fees, seed phrases, and hexadecimal addresses, these apps make on-chain finance accessible without forcing users to understand the underlying complexity. Sophisticated Capital Structures Return (Without the Baggage) One of Q2's most interesting developments has been the quiet return of structured products to DeFi. Protocols like Resolv, Aave's Umbrella initiative, and are building products that look familiar to any TradFi professional. By offering features mirroring tranching and promoting yield optimization, they provide differentiated risk profiles that can accommodate the specific mandates of institutional investors, from pension funds to corporate (and DeFi) treasuries. It's a move beyond simple, high-risk yield farming and toward a financial system that can price and allocate risk in a sophisticated way. It's the infrastructure needed to manage capital at scale. A Blurring of Financial Worlds The distinction between "crypto" and "TradFi" is further dissolved. Superstate's Opening Bell platform facilitated the first direct issuance of SEC-registered public shares on-chain, and Kraken rolled out commission-free stock trading alongside its crypto offerings. When traditional assets can move on new rails and users can access both systems from a single interface, it no longer makes sense to think about these as 'crypto' or 'fintech' products. Of course the two examples above highlight 'stocks' coming to crypto, but the opposite is also true where nearly all major fintech applications have or are adding crypto in some capacity. The market has moved from experimental to essential. Looking Forward: A Different Kind of Bull Market Q2 2025 will likely be remembered as the quarter when DeFi stopped trying to reinvent finance and started improving it. The stablecoin infrastructure being built by traditional institutions, the mobile-first experiences emerging through mini-apps, and the sophisticated products being developed by mature protocols all point to the same conclusion: DeFi has found its footing. The acquisition activity tells the story: strategic deals like Privy's exit to Stripe and Anchorage's acquisition of Mountain Protocol continue the trend of crypto infrastructure companies being valued and acquired by larger players. This isn't the speculative mania of previous cycles. It's more accessible, efficient, and global financial services at scale. The gold rush mentality that characterized crypto's early years is giving way to railroad building. And historically, the companies that build the railroads tend to outlast those that just dig for gold. Sign in to access your portfolio
