How Anchorage Helps Banks Mint Their Own Stablecoins

From regulation to issuer

Mónica Ramírez de Arellano said the GENIUS bill, signed in July of last year, "put us in lockdown over the summer." Since then, Anchorage Digital Bank has announced five stablecoins it issues publicly, among them Tether's USAT, OSL's USDGO, Falcon Finance's FUSD and a coin for Western Union. She said the bank publishes all attestations monthly on its website and is the issuer of record.

She described how the stablecoins team at Anchorage Digital has evolved over the past eighteen months.

One provider for banks

Anchorage Digital went public with its solution for banks in February, according to Mónica Ramírez de Arellano. The offering lets banks mint and redeem stablecoins natively within their own infrastructure, and she said that instead of needing three different partners, banks can rely on Anchorage for minting and redemption, custody and fiat connectivity in one place.

Distribution over savings

Mónica Ramírez de Arellano argued the case for issuing has to come down to distribution. If a bank instead starts by counting how much it is saving, she said, "you're always gonna come back in the negative." She added that many large conglomerates in emerging markets, including LatAm, already have exposure to stablecoins through cross-border payments.

Remittances and non-USD coins

She expects the remittance use case for banks to be a six to twelve month activation. International banks start comfortable with USD-denominated stablecoins, she said, but after three to four months begin asking about issuing a non-USD coin. She predicts non-USD conversations by this time next year, and said such products may become yield-bearing assets rather than pure stablecoins.