The decentralized financial platform (DEFI) Ethena is expected to bring her stable $ 1.5 billion on the American market, teaming up with Crypto Bank Anchorage Digital to issue the token under new Stablecoin laws.
As part of the partnership that companies announced on Wednesday, the crypto bank anchorage regulated by the federal government will issue the USDTB token directly to the United States under the standards of compliance of the Act on Engineering.
This is a distance from the current offshore publication model of the token, a decision that aims to create a way so that institutions hold and use the token in regulated financial channels.
“Although we have already seen a high demand for USDTB, we expect the conformity of geniuses to allow our partners and holders to expand with confidence and significantly its use on new products and platforms,” said the co -founder and CEO of the development organization Ethena, Ethen Labs, Guy Young, in a press release.
Ethena Ena’s governance token (ENA) is up 9% in the last 24 hours, surpassing the wider cryptography market which has seen many altcoins plunge 5% to 10% overnight. The market Benchmark Coindesk 20 index fell 1.3% during the same period.
This decision comes after President Trump signed the law on engineering last week, historical cryptography legislation which establishes guidelines for stablecoins and issuers to be operated in the country. Stablecoins are a class of cryptocurrencies of $ 250 billion and fast growing with their prices anchored to an external asset, mainly fiduciary currencies like the US dollar. TETHER, transmitter of the largest stablecoin USDT, also announced its intention to penetrate the American market under the new law.
The USDTB, introduced in December, aims to maintain a stable price at $ 1 and is mainly supported by the Buidl tokenized monetary market, issued by BlackRock and Securitize. The token currently has an $ 1.45 billion offer on Ethereum blockchain, according to Rwa.xyz data. Ethena also issues the “digital dollar” of the USDE, a token that generates short-circuit yield of Bitcoin, Ether and Sol financing rates.
Read more: Cryptographic cash flow fever spreads to Ethena as a $ 360 million space agreement targets the accumulation of ENA
