By 
U.S. Bank has been appointed as the official custodian for the reserves backing Anchorage Digital Bank’s payment stablecoins — a move that marks a significant step toward bridging traditional banking with regulated digital asset innovation.
Anchorage Digital Bank remains the only crypto-native institution in the United States with a federal charter, operating under the supervision of the Office of the Comptroller of the Currency (OCC). The partnership reinforces efforts to develop stablecoin frameworks that combine digital utility with institutional-grade safety and compliance.
As one of the country’s largest global custodians, U.S. Bank provides services across nearly 100 financial markets worldwide, serving a broad spectrum of institutional clients, including corporations, financial institutions, insurers, government entities, and foundations.
“Payment stablecoins present a major opportunity for institutional clients, offering the potential to reduce costs and enable near-instant settlement, especially in cross-border transactions,” said Stephen Philipson, Vice Chair of U.S. Bank’s Wealth, Corporate, Commercial and Institutional Banking division.
“As digital assets and regulations evolve, the combination of U.S. Bank’s stability, scale, and custody expertise provides assurance that could accelerate the issuance and adoption of compliant payment stablecoins,” he added.
Strengthening the Institutional Stablecoin Ecosystem
The collaboration follows the passage of the GENIUS Act, which established a comprehensive regulatory framework for the issuance of payment stablecoins in the United States. The Act mandates that such stablecoins must be fully backed one-to-one by high-quality liquid assets and supported by robust anti–money laundering (AML) and Bank Secrecy Act (BSA) programs.
Anchorage Digital Bank launched its stablecoin issuance platform in July 2025, immediately after the GENIUS Act became law. The bank’s initiative aims to issue dollar-backed stablecoins that meet the highest standards of safety, transparency, and regulatory compliance.
“Our goal is to issue payment stablecoins that meet the highest regulatory benchmarks and unlock genuine institutional utility,” said Nathan McCauley, Co-founder and CEO of Anchorage Digital. “Partnering with U.S. Bank reflects the growing alignment between digital finance and traditional banking — and highlights the momentum behind mainstream adoption of compliant, dollar-backed stablecoins.”
A Growing Role for Trusted Custodians
With over $11.7 trillion in assets under custody and administration as of June 30, 2025, U.S. Bank’s institutional division offers a full suite of services, including global custody, asset management, fund administration, and alternative investment solutions.
The partnership with Anchorage Digital underscores how traditional financial institutions are increasingly integrating with regulated digital asset players, paving the way for a more secure and transparent stablecoin market designed for institutional use.
Comments