Add as a preferred source on GoogleAnchorage Issues USAT as OCC’s GENIUS Act Application Process Remains Unopened
Tether provides technology and supports the token’s branding, strategy and distribution. Only approved customers can mint or redeem USAT directly.
Anchorage Digital Bank, N.A. is the sole issuer of USAT, while the OCC had not opened the GENIUS Act application process by Oct. 27, and public materials did not show USAT authorized under the law.
Tether provides technology and supports USAT’s branding, strategy and distribution. It is not the issuer and has no obligation to redeem or guarantee USAT. USAT and USDT are separate products with different issuers and legal arrangements.
Anchorage’s terms allow only approved customers to mint or redeem USAT directly. Other holders generally must use exchanges or secondary markets. As of Aug. 31, 2026, USAT had about 175.7 million tokens in redeemable circulation and about $176.4 million in reserve assets.
The GENIUS Act took effect July 18, 2025, and its main issuer framework is scheduled to begin Jan. 18, 2027. The OCC issued its main implementing rule Oct. 21. The law’s issuer requirements set the framework for that start date.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.