Company explainer

What Is Anchorage Digital?

Anchorage Digital runs the first federally chartered crypto bank in the U.S. It now issues stablecoins for Tether and Western Union. Here is what it does.

Updated November 6, 2026

Short answer

Anchorage Digital is an institutional crypto platform whose bank, Anchorage Digital Bank, N.A., was the first federally chartered crypto bank in the U.S. It issues Tether's U.S. stablecoin USAT (since January 2026) and Western Union's USDPT on Solana (since May 2026), alongside custody, staking, trading and settlement for institutions.

What Anchorage Digital does

Anchorage serves institutions: custody, staking, trading, governance, settlement and, increasingly, stablecoin issuance. Its federally chartered bank lets it mint and redeem stablecoins under OCC supervision, which is what brands entering the U.S. under the GENIUS Act need.

Stablecoins issued by Anchorage

USAT: Tether's U.S. stablecoin, launched January 27, 2026, with Cantor Fitzgerald as reserve custodian. It is separate from offshore USDT
USDPT: Western Union's payment stablecoin on Solana, live since May 4, 2026, which powers its Stablecard

Why it matters

Anchorage has become the go-to federal issuer for brands that want a U.S.-regulated stablecoin without becoming a bank themselves, the role Paxos and BitGo play for PayPal and World Liberty Financial. See which companies have a stablecoin and our coverage of Western Union's Stablecard.