Anchorage Releases First USAT Reserve Report, Verifying $17.6 Million in Backing

Posted on by

TLDR

  • Anchorage Digital Bank has published the inaugural reserve attestation for USAT, affirming $17.6 million in backing.
  • The report confirmed that 17,501,391 USAT tokens are fully backed by cash and assets collateralized by Treasury securities.
  • Anchorage indicated that all reserve assets are held in segregated fiduciary trust accounts subject to federal oversight.
  • Tether executives commented that the attestation signals increasing demand for a regulated, dollar-pegged stablecoin within the U.S. market.
  • According to market data, the total stablecoin supply is approaching $300 billion, with USAT launching amid growing demand for compliant tokens.

Anchorage Digital Bank has issued its first reserve attestation for the stablecoin, confirming $17.6 million in backing. The disclosure detailed asset holdings and circulation figures, reflecting the initial activity for the new token.

Reserve Report for USAT

Anchorage Digital Bank reported holding $17,604,716 in reserves for USAT, with 17,501,391 tokens in circulation. The bank noted that the reserves surpass the circulating supply by approximately 0.6 percent.

The bank verified that the reserves consist of cash and reverse repurchase agreements, which are collateralized by U.S. Treasury securities. All assets are held within segregated fiduciary trust accounts.

USAT launched on January 27 and entered the market under federal oversight, operating under the supervision of the Office of the Comptroller of the Currency.

Executives stated that the attestation enhances transparency and bolsters the early stages of issuance. They also confirmed the process adhered to regulatory expectations set by federal rules.

Anchorage CEO Nathan McCauley emphasized that transparent reporting facilitates broader institutional adoption. He added that regulatory oversight enables tokenized dollars to meet settlement requirements effectively.

Tether’s CEO said the report’s release demonstrates a need for a “resilient, dollar-backed digital asset tailored to the U.S. market,” highlighting the company’s commitment to the regulated landscape.

Tether Expands U.S. Presence Through USAT

USAT is the first token issued by Tether to operate under direct U.S. banking supervision. Its launch occurred after the passage of the GENIUS Act in July 2025.

The legislation mandates that stablecoins be backed by high-quality reserves and hold short-term assets like Treasury bills. Regulators stated these requirements enhance transparency and guarantee appropriate backing.

USAT is entering a market currently dominated by Tether and Circle, whose tokens continue to lead in global circulation.

Industry data indicates the overall stablecoin market is nearing a $300 billion supply, with data providers noting that USDT and USDC remain the most widely used.

The CEO of USAT suggested the token has the potential to become a significant purchaser of Treasury bills this year. He indicated that increased issuance could drive up demand for short-term government assets.

Tether explained that it designed USAT to comply with federal regulations. It also noted that Anchorage’s banking charter permits operations within the United States.

Anchorage characterized the attestation as an initial milestone for the program, with additional disclosures planned for standard reporting intervals.