U.S. Bank will serve as the custodian for the reserves backing the payment stablecoins issued by Anchorage Digital Bank. Anchorage Digital Bank is the only crypto-native bank in the United States to hold a federal charter from the Office of the Comptroller of the Currency (OCC).
The partnership brings together one of the nation’s largest global custodians with a federally chartered digital asset bank to provide a regulated and secure structure for stablecoin issuance.
Bridging traditional finance and digital assets
According to U.S. Bank, the collaboration is a response to growing interest from institutional clients in payment stablecoins, which offer the potential for lower costs and faster settlement times, particularly for cross-border payments.
“Payment stablecoins are an important area of exploration for institutional banking clients, given the advantages they can offer,” said Stephen Philipson, vice chair of wealth, corporate, commercial and institutional banking at U.S. Bank. “As the rapidly growing digital asset segment and regulatory environment continue to evolve, the strength and stability of U.S. Bank, along with its custody solutions and expertise, offers an extra layer of assurance that may help accelerate issuance of these products.”
A regulated framework for stablecoin issuance
Anchorage Digital Bank launched its stablecoin issuance platform in July 2025, immediately following the passage of the GENIUS Act in the US. The company stated its stablecoins are fully compliant with the act, which requires them to be backed one-to-one by high-quality liquid assets and supported by robust Bank Secrecy Act (BSA) and anti-money laundering (AML) programs.
“The passage of the GENIUS Act created the conditions for payment stablecoins to scale responsibly under U.S. oversight,” said Nathan McCauley, chief executive officer and co-founder of Anchorage Digital. “At Anchorage Digital Bank, our goal is to issue payment stablecoins that meet the highest regulatory standards and unlock real utility for institutions. Partnering with U.S. Bank reflects the growing alignment between digital finance and the traditional financial system – and it underscores the momentum behind bringing dollar-backed payment stablecoins into the mainstream.”
U.S. Bank’s Wealth, Corporate, Commercial and Institutional Banking division reported over $11.7trillion in assets under custody and administration as of June 30, 2025.