- Ethena Labs plans to launch its USDtb stablecoin, currently valued at $1.5 billion, in the United States.
- The company is partnering with Anchorage Digital to issue the dollar-pegged token domestically.
- Stablecoin legislation, signed into law by President Trump, is expected to boost demand in the U.S. market.
- Major firms like Citigroup, J.P. Morgan Chase, and Western Union are expressing interest in stablecoins.
- The stablecoin market exceeds $250 billion and could triple by the end of 2026, according to recent forecasts.
Ethena Labs is getting ready to bring its stablecoin, USDtb, to the United States. The company, working with Anchorage Digital, aims to start issuing the digital dollar token soon. This move comes days after new U.S. stablecoin laws were signed, encouraging more activity in the space.
USDtb, which is pegged to the U.S. dollar, has a market circulation of about $1.5 billion, according to CoinMarketCap. Anchorage Digital will handle the U.S. issuance using its regulated platform. An Anchorage spokesperson told Decrypt that the release will happen in the “near future,” but did not provide a specific date.
Guy Young, CEO of Ethena Labs, said in a statement, “While we’ve already seen strong demand for USDtb, [and] we expect GENIUS compliance to empower our partners and holders to confidently and significantly expand its use across new products and platforms.” USDtb’s U.S. launch follows the signing of the GENIUS Act on July 18. This law introduces a federal regulatory framework for stablecoins, which are digital tokens designed to maintain a stable value by being pegged to government-issued currencies like the U.S. dollar.
The stablecoin market has grown to over $250 billion. Research by Standard Chartered predicts the market could triple by 2026. Interest in stablecoins is emerging from both crypto-focused companies and traditional banks. Over the past few weeks, Citigroup, J.P. Morgan Chase, and Western Union have signaled plans to enter the market. Digital asset firms like BitGo and World Liberty Financial have also launched similar products.
Data shows that USDtb has a circulating supply of $1.45 billion. The network’s token, ENA, has risen 75% in the past month, including a 5% increase in the most recent 24 hours, based on CoinGecko data. Tether remains the largest stablecoin issuer with a $152.6 billion daily trading volume, while U.S.-based Circle follows with $17.4 billion per day, according to CoinMarketCap.
Competitors such as Polymarket may also join the stablecoin sector soon.
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