Anchorage Digital Bank, a federally chartered financial institution, will soon offer rewards on certain stablecoin offerings.
Nathan McCauley, CEO and co-founder of Anchorage Digital, said they are setting the standard in digital dollars:
“The launch of America’s first federally regulated stablecoin was a major milestone in building a trusted foundation. Now, with USDtb minting, redemptions, and stablecoin rewards available through Anchorage Digital, we’re accelerating the adoption of safe and trusted stablecoins at global scale.”
The rewards will be available on USDtb and USDe.
USDtb is a stablecoin issued directly by Anchorage.
USDe is a “synthetic dollar” created by Ethena Labs. USDe is not backed by fiat but aims to hold its greenback peg using a “delta-neutral” strategy. Anchorage explains tht this entails holding other assets like Bitcoin or Ether and then taking a short position in futures tied to that asset.
The ewards are offered by Anchorage Digital Neo, Ltd., a Cayman-based subsidiary.
While Anchorage has yet to provide additional insight as to what type of yield the rewards may generate, apparently, the rewards are derived from yields on underlying holdings like T-bills rather than direct interest similar to a bank savings account. This aims to allow distribution without violating U.S. stablecoin laws as defined by the GENIUS Act.
Anchorage caters to institutional investors and perhaps some Accredited Investors. While smaller investors may not be able to access these yield-generating stablecoins, it does place Anchorage in a solid position to offer retail access in the future or power other platforms to do so.
Guy Young, Founder of Ethena Labs, says they are “proving that stablecoins can deliver both rewards and regulatory integrity, a powerful combination that will define the next era of participation in digital assets.”
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