Anchorage Digital Plans to More Than Double Its Stablecoin Team Size

BlockBeats News, September 25th, according to Bloomberg, as the only cryptocurrency native company holding a U.S. federal bank charter, Anchorage Digital Bank NA plans to more than double the size of its stablecoin team in the next year.

Anchorage CEO Nathan McCauley stated that the bank's stablecoin team currently has about 20 people. Anchorage's possession of a federal charter enables it to issue a large-scale stablecoin in the U.S. under the "Genius Act." Before expanding its hiring, this month the bank partnered with Tether to issue a new type of digital dollar compliant with U.S. regulations. Anchorage will be the legal issuer of the new token, USAT, while Cantor Fitzgerald LP will be responsible for overseeing USAT's reserve assets.