Anchorage steps back from stablecoin consortium

Anchorage Digital, the first federally chartered crypto bank in the U.S., is reducing its prominent role in the Global Dollar stablecoin (USDG) consortium, which includes major players like Robinhood and Kraken. CEO Nathan McCauley stated the firm will adopt a more neutral stance on stablecoins, focusing on providing white-label issuance services to a wider range of clients. This strategic shift comes as Anchorage sees significant interest from approximately 20 institutions looking to issue their own stablecoins. The company aims to maintain support for USDG's success while prioritizing neutrality and broader market engagement.