On October 10, 2025, U.S. Bancorp announced that it had been selected to serve as the custodian for reserves backing Anchorage Digital Bank’s payment stablecoins. The partnership follows Anchorage Digital Bank’s July 2025 launch of a dollar‑backed stablecoin platform under the newly enacted GENIUS Act, which requires one‑to‑one backing by high‑quality liquid assets and robust AML controls.
Anchorage Digital Bank is the only crypto‑native bank in the United States to hold a federal charter and operate under the Office of the Comptroller of the Currency. By providing custody for the stablecoin reserves, U.S. Bancorp will support the bank’s compliance, audit, and governance framework, positioning it as a trusted partner for institutional clients seeking regulated digital‑asset solutions.
U.S. Bancorp’s custody division already manages more than $11.7 trillion in assets under custody and administration as of June 30, 2025, and the addition of stablecoin reserves expands its product suite into a rapidly growing market segment. The move aligns with the bank’s broader digital‑innovation strategy and could generate new fee income streams while reinforcing its reputation as a leading custodian for both traditional and digital assets.
The partnership signals U.S. Bancorp’s commitment to capturing value in the emerging stablecoin ecosystem, potentially opening access to a new client base and reinforcing its competitive moat in the payments and custody space.
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