Explainer: How Tether Launched USAT Through Anchorage Bank Under the GENIUS Act
- —Anchorage Digital Bank is USAT's sole issuer; Tether has no redemption obligation
- —USAT reserves stood at $176.4 million against 175.7 million tokens as of Aug. 31, 2026
- —The GENIUS Act's principal issuer framework takes effect Jan. 18, 2027
- —The OCC issued its final implementing rule on Oct. 21, 2026, but is not yet accepting applications
Why it matters: Separating brand from issuer sets a template for U.S. stablecoin launches, but GENIUS Act compliance remains unconfirmed without OCC approval.
Source: Bitcoin.com