U.S. Bank has been chosen to serve as the custodian for the reserves backing Anchorage Digital Bank’s payment stablecoins a partnership that bridges the gap between traditional finance and digital innovation. Anchorage Digital Bank stands out as the only crypto-native bank in the U.S. to hold a federal charter, operating under the direct supervision of the Office of the Comptroller of the Currency (OCC).
As one of the country’s largest global custodians, U.S. Bank brings a wealth of experience to the partnership, with operations spanning nearly 100 financial markets worldwide. Its clients include institutional asset owners such as financial institutions, corporations, government entities, insurance companies, and foundations.
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Stephen Philipson, vice chair of U.S. Bank’s Wealth, Corporate, Commercial, and Institutional Banking division, emphasized the growing importance of stablecoins for institutional banking clients. He noted that payment stablecoins have the potential to deliver faster, lower-cost transactions compared to traditional payment methods especially for cross-border payments. Their ability to enable real-time settlements and incorporate smart contract functionality opens the door to enhanced transparency and efficiency in global transactions.
“As the digital asset sector and its regulatory landscape continue to evolve, the stability and expertise of U.S. Bank provide an additional layer of confidence,” Philipson added. “Our custody capabilities can help accelerate the responsible issuance of these new financial instruments.”
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Nathan McCauley, CEO and Co-Founder of Anchorage Digital, echoed that sentiment. “The passage of the GENIUS Act has created the right environment for payment stablecoins to scale responsibly under U.S. oversight,” he said. “At Anchorage Digital Bank, we’re committed to issuing stablecoins that meet the highest regulatory standards and deliver real value for institutions. Partnering with U.S. Bank marks a significant step toward aligning digital finance with traditional banking and signals strong momentum for bringing dollar-backed stablecoins into the mainstream.”
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Following the passage of the GENIUS Act, Anchorage Digital Bank launched its stablecoin issuance platform in July 2025. The act mandates that stablecoins must be fully backed on a one-to-one basis by high-quality liquid assets, supported by robust compliance programs under the Bank Secrecy Act and Anti-Money Laundering (AML) standards. This framework ensures that Anchorage Digital’s stablecoins meet the highest benchmarks for safety, transparency, and institutional trust.
As of June 30, 2025, U.S. Bank’s Wealth, Corporate, Commercial, and Institutional Banking division manages over $11.7 trillion in assets under custody and administration. Beyond its custodial services, the bank also provides a wide range of institutional trust, asset management, and fund administration offerings.
Together, U.S. Bank and Anchorage Digital Bank are setting a new precedent for how traditional financial
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