US-based Ethena Planning to Introduce $1.5 Billion Stablecoin, Partnering with Anchorage Digital in the United States
In a significant move for the stablecoin market, Ethena Labs' USDtb stablecoin made its debut in the United States immediately as of late July 2025. This development comes after the launch announcement on July 24-25, 2025, and marks the transition of USDtb from offshore issuance to a fully regulated, U.S.-based stablecoin.
The USDtb stablecoin, which is expected to comply fully with the U.S. GENIUS Act, is issued in partnership with Anchorage Digital, a federally chartered crypto bank in the U.S. Leveraging Anchorage Digital's federal crypto charter and stablecoin issuance platform, USDtb will be domestically launched.
The GENIUS Act, a stablecoin bill, was signed into law by U.S. President Donald Trump on July 18, and is anticipated to fuel a massive expansion of the stablecoin market. The Act enables issuance through Anchorage Digital Bank, providing regulatory clarity for the USDtb stablecoin.
As of writing, the stablecoin market is worth over $250 billion, according to DeFiLlama data. This market is projected to triple in size by the end of 2026, according to U.K. bank Standard Chartered forecasts. The stablecoin market's growth is further evidenced by the interest shown by financial giants such as Citigroup, J.P. Morgan Chase, and Western Union in introducing stablecoins over the past few weeks.
Notably, Tether remains the top stablecoin issuer with a daily trading volume of $152.6 billion, according to CoinMarketCap. U.S.-based Circle trails Tether with a daily trading volume of $17.4 billion, as per the same data.
The circulating supply of USDtb is currently over $1.45 billion, according to CoinMarketCap. ENA, the token of the Ethena network, has seen a 5% increase over the past 24 hours and a 75% increase over the past month, according to CoinGecko.
Rumors suggest that Polymarket is planning to introduce a stablecoin, joining the likes of crypto custodian BitGo and Trump-affiliated decentralized finance platform World Liberty Financial, who have rolled out stablecoins within the past year.
As the USDtb stablecoin takes its first steps in the U.S., it signifies a new era for regulated digital currencies, offering a promising future for the stablecoin market's growth and development.
[1] The Block [2] CoinDesk [3] Decrypt [4] CNBC
- Ethena Labs' USDtb stablecoin, following its debut in late July 2025, immediately entered the U.S. market, emphasizing the potential growth of the stablecoin sector.
- The USDtb stablecoin's launch and transition from offshore issuance to a U.S.-based stablecoin is a result of the partnership with Anchorage Digital, a U.S.-based federally chartered crypto bank.
- The stablecoin market, currently worth over $250 billion, according to DeFiLlama data, is projected to expand significantly, with forecasts suggesting a tripling in size by the end of 2026.
- Tether, with a daily trading volume of $152.6 billion, remains the top stablecoin issuer, while U.S.-based Circle follows closely with a daily trading volume of $17.4 billion.
- The circulating supply of the USDtb stablecoin exceeds $1.45 billion, with its associated token, ENA, experiencing a 5% increase over the past 24 hours and a 75% increase over the past month.
- Three financial giants – Citigroup, J.P. Morgan Chase, and Western Union – have shown interest in introducing stablecoins in recent weeks, reflecting the increasing interest in digital assets within the finance industry.
- Other entities reportedly planning to join the stablecoin market include Polymarket, crypto custodian BitGo, and the Trump-affiliated decentralized finance platform World Liberty Financial.
- The debut of the USDtb stablecoin in a regulated environment signals a new era for regulated digital currencies, providing a promising outlook for the stablecoin market's growth and development.
- Major news sources, such as The Block, CoinDesk, Decrypt, and CNBC, are monitoring the developments in the stablecoin market closely, offering updates and insights to the global business, technology, and finance communities.
