U.S. licensed crypto bank Anchorage Digital plans to more than double the size of its stablecoin team within a year

ChainCatcher news, according to Bloomberg, U.S. licensed crypto bank Anchorage Digital plans to more than double the size of its stablecoin team within the next year. Anchorage CEO Nathan McCauley stated that the bank's stablecoin team currently has about 20 people. The federal license held by Anchorage allows it to issue large amounts of stablecoins in the U.S. under the Genius Act.

Earlier this month, Anchorage announced a collaboration with Tether to launch a compliant new digital dollar, USAT, with Anchorage serving as the legal issuer and Cantor Fitzgerald LP responsible for reserve asset oversight.