Institutional DeFi enters a new phase



Ethena × Anchorage unveil the first-ever federally regulated stablecoin, USDtb backed 100% by treasuries and RWAs, issued and custodied by Anchorage, the only OCC-chartered crypto bank

All reserves sit inside BlackRock’s BUIDL fund

USDe and USDtb holders gain direct yield on Anchorage with full liquidity, creating a stablecoin built for institutions: DeFi-level returns, U.S. bank-grade structure

Key breakthroughs:

+ First >$1B smart-contract system transitioned fully onshore
+ Regulatory leap beyond state-level issuance caps
+ A clear path for next-gen protocols under the GENIUS Act

@ethena_labs is positioning the U.S. as the center of compliant stablecoins, offering institutions higher yield and federal bankruptcy-remote protection

TVL at $7B today 2026 sets up a realistic path toward $15B

The institutional era is accelerating
USDE0.03%
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