Anchorage to Double Stablecoin Team as Tether Launch Looms

Anchorage Digital Bank NA, the only crypto-native firm with a federal US banking charter, plans to more than double the size of its stablecoin team over the next year, as a boom in digital dollars and new legislation prompts a rush for talent and products.

The Sioux Falls, South Dakota-based bank’s stablecoin team is currently at about 20 people, Anchorage Chief Executive Officer Nathan McCauley said in an interview. Anchorage’s federal license allows it to issue large stablecoins in the US under the Genius Act, which was signed into law in July.