Anchorage Digital offers non-U.S. banks a stablecoin stand-in for correspondent banking

Anchorage Digital, the first crypto firm with a U.S. banking charter, is introducing "Stablecoin Solutions" aimed at non-U.S. banks seeking an alternative to traditional correspondent banking. This new service provides U.S.-regulated stablecoin rails for the cross-border movement of dollar-tied assets, integrating minting, redemption, custody, fiat treasury management, and settlement into one offering. CEO Nathan McCauley stated that this allows banks to move dollars globally using blockchain rails while maintaining custody and compliance. The launch follows the passage of the GENIUS Act, which governs stablecoin issuers. While Anchorage Digital can handle existing stablecoins like USDT and USDC, it will also natively mint and redeem tokens issued by Anchorage Digital Bank, including Tether’s USA™ and Ethena Labs’ USDtb. Correspondent banking is often slow and expensive, and Anchorage Digital aims to use stablecoin rails to cut settlement delays and simplify complexity, although the full regulatory framework under the GENIUS Act is still being finalized by federal agencies.

(Source：CoinDesk)