Assets · Stablecoin · issued by Anchorage Digital
USDtb (USDtb)Updated 21 Oct 2026
US dollar stablecoin designed by Ethena Labs and issued by Anchorage Digital Bank; its reserves are almost entirely BlackRock BUIDL fund tokens.
Issued through USDtb stablecoin Live (limited)
Classification · high confidence
- Legal form
- Stablecoin from economic tests
- Underlying
- Government debt · Government debt 99%, Money 1% (31 Aug 2026)
- Value behaviour
- Stable value · no income
- Ledger role
- Native
Reserve of $530.4m at 31 Aug 2026: BUIDL at fair value $525.2m, cash $5.2m. BUIDL is looked through to its cash, T-bills and Treasury repo (cash residual exception), giving government-debt.
Sourced[2]. How assets are classified: methodology.
Wraps BUIDL[1]. Its value is shown here but not counted in totals, because the same money is counted as BUIDL.
Contracts
No contract addresses recorded yet.
Sources
- [1]Anchorage Digital Issues USDtb: America's First Federally Regulated Stablecoin — Anchorage Digital, 14 Oct 2025. Accessed 11 Oct 2026.B
- [2]USDtb Reserve Report as of 31 August 2026 — Anchorage Digital Bank (independent accountant's report). Accessed 21 Oct 2026.A