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Ethena / Anchorage Digital

Anchorage Digital Bank National Association is a federally chartered U.S. national trust bank regulated by the Office of the Comptroller of the Currency. USDtb was initially launched by Ethena-related entities in 2024, and Anchorage Digital Bank became the sole issuer and reserve manager in October 2025.

Founded2017
CEONathan McCauley
StagePrivate
FoundersDiogo Mónica, Nathan McCauley

Products

USDtb active $727M
USDtb
Rwa Backed

USDtb is a USD-pegged stablecoin initially launched in December 2024 with reserves primarily invested in tokenized U.S. Treasury fund exposure. Anchorage Digital Bank became sole issuer and reserve manager in October 2025.

Overview

Anchorage Digital Bank National Association is a federally chartered U.S. national trust bank regulated by the Office of the Comptroller of the Currency. USDtb was initially launched by Ethena-related entities in 2024, and Anchorage Digital Bank became the sole issuer and reserve manager in October 2025.

Products

Stablecoins issued by this entity: USDTB.

Regulatory Status

United States
National trust bank charter
GENIUS Act ↗
licensed2021
United States
OCC conditional approval for national trust bank charter
GENIUS Act ↗
licensed2021

Funding

RoundAmountYear
Series D$350M2021