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Deployments · platform by Anchorage Digital

Tether USA₮ (USAT) issued by Anchorage Digital BankNew

Tether's US-regulated dollar stablecoin, launched in January 2026 with Anchorage Digital Bank, a federally chartered national trust bank, as the issuer; Tether's website describes the product but names Anchorage as issuer. It is the onshore counterpart to USDT, aimed at US users and institutions. About $183 million was outstanding in October 2026, all on Ethereum.

AnnouncedProof of conceptPilotLive (limited)Live (scaled)

Live (limited) since 27 Jan 2026[2] — Live and listed on exchanges; supply is small next to USDT. · Reviewed 25d ago

Assets
Stablecoin[2]
US dollar stablecoin issued by a national trust bank
Networks
Ethereum Public, permissionless[3]
No issuer-published contract list found; DefiLlama shows all supply on Ethereum.
Use cases
Primary issuance[3]Payments[1]
Jurisdictions
United States

Participants

Likely relevant regulation

Assets

Metrics

  • ~$183.32mTokens in circulation · as of 14 Oct 2026[3]
    On-chain via DefiLlama; all on Ethereum.
  • ~$179.32mSupply on chain (daily) · as of 7 Nov 2026[7]
    Automated daily reading of on-chain supply across all chains.
  • ~$179.32mSupply on chain (daily) · as of 7 Nov 2026 · on Ethereum[7]
    Automated daily reading.

Timeline

  1. Happened 27 Jan 2026 · Launch · recorded 14 Oct 2026
    Tether launches USAT in the US with Anchorage Digital Bank as issuer.[2]

Sources

  1. [1]USA₮ - Dollars That Move Without Intermediaries — Tether. Accessed 14 Oct 2026. Site published by Tether Operations, S.A. de C.V., which states that the issuer of USA₮ is Anchorage Digital Bank, N.A..B
  2. [2]Tether launches US regulated stablecoin USA₮ via Anchorage Digital bank — Ledger Insights, 27 Jan 2026. Accessed 14 Oct 2026.C
  3. [3]USAT stablecoin data (API) — DefiLlama, 14 Oct 2026. Accessed 14 Oct 2026.A
  4. [4]Tether Announces the Launch of USA₮, the Federally Regulated, Dollar-Backed Stablecoin, Made in America — Tether, 27 Jan 2026. Accessed 28 Oct 2026.B
  5. [5]USAT Reserve Report and Independent Accountant's Report as of 31 August 2026 — Anchorage Digital Bank (examined by Deloitte & Touche LLP), 28 Sep 2026. Accessed 28 Oct 2026. From anchorage.com/platform/usat-reserve-attestations. Reserve $176.4m: $17.5m cash at FDIC-insured banks and $158.9m reverse repos; counterparties not named. Accountant named on the letterhead (image)..A
  6. [6]Tether Leads $7 Million Series A in Pact Labs to Expand USA₮ Across Payroll and Payments — Tether, 14 Jul 2026. Accessed 28 Oct 2026.B
  7. [7]Supply by chain, read daily — DefiLlama (automated daily refresh). Accessed 7 Nov 2026.A

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