TLDR
- Anchorage Digital Bank released the first reserve attestation for USAT, confirming $17.6 million in backing.
- The report verified that 17,501,391 USAT tokens were fully supported by cash and Treasury-backed assets.
- Anchorage stated that all reserves are held in segregated fiduciary trust accounts under federal oversight.
- Tether executives said the attestation reflects growing interest in a regulated dollar-backed stablecoin for the U.S. market.
- Market data showed that stablecoin circulation is nearing $300 billion, and USAT enters during the rising demand for compliant tokens.
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Anchorage Digital Bank released its first reserve attestation for the USAT stablecoin and confirmed $17.6 million in backing, and the disclosure outlined asset holdings and circulation data, and the filing reflected early activity for the new token.
Reserve Report for USAT
Anchorage Digital Bank reported 17,604,716 dollars in reserves for USAT and stated that 17,501,391 tokens were outstanding. The bank said reserves exceeded circulating supply by roughly 0.6 percent.
The bank confirmed that reserves included cash and reverse repurchase agreements and said they were collateralized by Treasury securities. It placed all assets in segregated fiduciary trust accounts.
USAT launched on January 27 and entered the market under federal oversight. The token operates under supervision from the Office of the Comptroller of the Currency.
Executives said the attestation improves transparency and supports early issuance operations. They also said the process followed regulatory expectations under federal rules.
Anchorage CEO Nathan McCauley stated that transparent reports support broader institutional use. He said oversight helps tokenized dollars handle settlement needs.
Tether CEO Paolo Ardoino said the release shows demand for a “resilient, dollar-backed digital asset tailored to the U.S. market.” He said the attestation underscores the company’s focus on the regulated environment.
Tether Expands U.S. Presence Through USAT
USAT operates as the first Tether-issued token under direct U.S. banking supervision. The launch followed the GENIUS Act, which passed in July 2025.
The act requires stablecoins to hold high-quality reserves and maintain short-term assets such as Treasury bills. Regulators said these rules strengthen transparency and ensure proper backing.
USAT enters a market led by Tether and Circle. Those tokens continue to dominate global circulation.
The broader stablecoin market approaches 300 billion dollars in supply according to industry data. Data providers said USDT and USDC maintain the highest usage.
USAT CEO Bo Hines said the token could become a large buyer of Treasury bills this year. He said expanding issuance may raise demand for short-term government assets.
Tether said it structured USAT to fit within federal limits. It also said Anchorage’s charter enables operations inside the U.S. perimeter.
Anchorage described the attestation as an early step for the program. It said further disclosures will follow routine reporting cycles.
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