Ethena Labs, an Ethereum-based decentralized finance (DeFi) protocol, announced a partnership with Anchorage Digital, the only federally chartered cryptocurrency bank in the United States. Thanks to this partnership, Ethena Labs’ USDtb stablecoin will begin to be issued in the United States, becoming the first asset of its kind to be fully compliant with the recently approved GENIUS Act (Guiding and establishing national innovation in US stablecoins), which regulates the issuance of domestic stable currencies.
In this way, The USDtb stablecoin will be distributed by Anchorage Digital Bank.which facilitates integration with the U.S. financial system. This was specified in the press release.
Nathan McCauley, CEO and co-founder of Anchorage Digital, emphasized that the GENIUS Act provides the transparency necessary for federal agencies to participate in stablecoin launches.
Passage of the GENIUS Act provides regulatory clarity and allows federal regulators, such as Anchorage Digital Bank, to fully participate in the stablecoin ecosystem. We are proud to support Ethena in bringing its products to the U.S., providing greater transparency and trust for our partners. As stablecoins become a fundamental pillar of modern finance, it is essential that they are built on secure, compliant and durable infrastructure.
Anchorage Digital CEO Nathan McCauley said:
Guy Young, CEO of Ethena Labs, said complying with the new regulations will not only strengthen confidence in USDtb; Enables greater adoption among partners and institutions.
This regulatory advancement further strengthens Ethena’s recent strategic moves in the DeFi ecosystem.
As reported by CriptoNoticias, the company has entered into a partnership with Aave, the largest decentralized lending platform in the market, to offer high returns to users through its “Liquid Leverage” product. This mechanism allows users to deposit 50% into Etena’s native stablecoin USDe and 50% into Etena staked USDe (sUSDe).
Recently, its USDe stablecoin lost its peg to the dollar on Binance. However, the exchange admitted that: depeg It was due to a failure of the platform’s oracle mechanism, and Ethena had nothing to do with it.
During the October 10 liquidation, USDe prices were strong on other exchanges, both centralized and decentralized.
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