Stablecoins & Markets
Kim Min-jun
Coverage focuses on reserves, redemption and the flow of money through digital-asset markets.
View articlesUSAT (Tether and Anchorage Digital)
USA₮ (USAT) is a US dollar-backed stablecoin issued by Anchorage Digital Bank, National Association, launched on January 27, 2026. Regulation: issued by Anchorage Digital Bank, a federally chartered national trust bank supervised by the Office of the Comptroller of the Currency (OCC). It is not on ESMA’s list of e-money tokens authorized under MiCA. Issuer states USA₮ is subject to the requirements of the GENIUS Act.
- Ticker
- USAT
- Issuer
- Anchorage Digital Bank, National Association
- Pegged to
- US dollar
- Type
- Fiat-backed
- Launched
- January 27, 2026
- E-money token under MiCA
- No
- Accounting firm or verifier
- Deloitte & Touche LLP
- Latest reserve report
- July 31, 2026
- Supply
- 175,245,527 USAT outstanding
- Supply as of
- July 31, 2026
- Transparency page
- anchorage.com
- Checked on
Reserves of $175.9 million on July 31, 2026: $17.5 million in demand deposits at FDIC-insured banks and $158.4 million in reverse repurchase agreements collateralized by US Treasuries, held in segregated trust accounts. Reserve reporting: monthly. Accounting firm or verifier: Deloitte & Touche LLP. The latest report covers July 31, 2026. Supply: 175,245,527 USAT outstanding as of July 31, 2026, according to the issuer.
Only clients of Anchorage Digital Bank can redeem directly, at $1.00 per token net of fees in the USAT fee schedule. The issuer lists 2 networks where the token is issued natively: Ethereum and Celo.
- Token name
- USA₮
- Brand
- Tether and Anchorage Digital
- Regulation
- Issued by Anchorage Digital Bank, a federally chartered national trust bank supervised by the Office of the Comptroller of the Currency (OCC)
- GENIUS Act
- Issuer states USA₮ is subject to the requirements of the GENIUS Act
- Reserves
- Reserves of $175.9 million on July 31, 2026: $17.5 million in demand deposits at FDIC-insured banks and $158.4 million in reverse repurchase agreements collateralized by US Treasuries, held in segregated trust accounts.
- Reserve reporting
- Monthly
- Latest report
- learn.anchorage.com
- Supply, millions of tokens
- 175.2
- Redemption
- Only clients of Anchorage Digital Bank can redeem directly, at $1.00 per token net of fees in the USAT fee schedule.
- Networks (native issuance)
- Ethereum, Celo
- Number of networks
- 2
- Website
- usat.io
- Sources
Page URL USA₮ reserve attestations (Anchorage) https://www.anchorage.com/platform/usat-reserve-attestations USAT July 2026 attestation report https://learn.anchorage.com/07.31.26_USAT-Stablecoin-Attestation-Report-signed.pdf USA₮ FAQ https://usat.io/faq USA₮ homepage https://usat.io Statement of USAT Policies and Disclosures https://www.anchorage.com/usat-policies-disclosures Covered Stablecoin Service Fee Schedule https://www.anchorage.com/anchorage-digital-bank-n-a-covered-stablecoin-service-fee-schedule Tether launch announcement, 27 Jan 2026 https://tether.io/news/tether-announces-the-launch-of-usat-the-federally-regulated-dollar-backed-stablecoin-made-in-america/ Anchorage: Anchorage Digital and Tether introduce USA₮ https://www.anchorage.com/insights/anchorage-digital-tether-introduce-usat ESMA interim MiCA register: e-money token issuers https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv
