US licensed crypto bank Anchorage Digital plans to more than double the size of its stablecoin team within a year

According to ChainCatcher, citing Bloomberg, US licensed crypto bank Anchorage Digital plans to more than double the size of its stablecoin team over the next year. Anchorage CEO Nathan McCauley stated that the bank's stablecoin team currently has about 20 members. Anchorage's federal license allows it to issue large-scale stablecoins in the US under the "Genius Act".

Earlier this month, Anchorage and Tether announced plans to jointly launch a compliant new digital dollar, USAT, with Anchorage serving as the legal issuer and Cantor Fitzgerald LP responsible for reserve asset oversight.