Anchorage Digital Stablecoin service aims to displace correspondent banks

• Anchorage Digital has launched a US dollar Stablecoin payments service aimed at foreign banks currently using correspondent banks

• The new service enables banks to buy and sell and hold in custody a variety of US dollar-denominated Stablecoins authorised under the GENIUS Act

• The regulated status of Anchorage Digital Bank is expected to appeal to foreign banks willing to use blockchain infrastructure that eliminates regulatory risk

Anchorage Digital, the regulated provider of cryptocurrency trading, staking, custody and settlement and Stablecoin issuance services, has launched a new Stablecoin payments service aimed at international banks.

Because Anchorage Digital Bank has a national banking licence issued by the Office of the Comptroller of Currency (OCC) – and is licensed by the Monetary Authority of Singapore (MAS) as well – the new service is likely to appeal to regulated banks based outside the United States that shy away from blockchain-based payments infrastructure for fear of incurring inadvertent regulatory risks.

The Stablecoin Solutions for Banks service aims to bypass the traditional correspondent banking industry by enabling banks to make US dollar payments in Stablecoins issued on to a variety of blockchains.

Anchorage notes that the traditional correspondent banking model requires banks to maintain cash buffers in multiple countries and currencies, which is expensive in collateral and capital as well as cash terms.

“By replacing traditional correspondent banking models and pre-funded nostro/vostro accounts with active, programmable Stablecoin balances, institutions can reduce trapped liquidity and compress settlement timelines from days to minutes, improving capital efficiency while reducing counterparty and settlement risk,” reads a press release.

The Stablecoins supported include Tether’s USA₮, Ethena Labs’ USDtb, OSL’s USDGO, and the USDPT planned by Western Union.

As well as enabling banks to use Stablecoins to settle payments, the service will allow banks to mint and redeem all Stablecoins authorised under the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS) passed in July 2025, and hold Stablecoins in bankruptcy-remote, segregated digital wallets - and invest Stablecoins for yield. 

“Stablecoins are becoming core financial infrastructure,” adds Nathan McCauley, Co-Founder and CEO of Anchorage Digital. “Stablecoin Solutions gives banks a federally regulated way to move dollars globally using blockchain rails, without compromising custody, compliance, or operational control. This is about modernising settlement while preserving the standards the financial system depends on.”