Anchorage Digital has secured every large stablecoin issuance mandate since the Genius Act became law, according to CEO Nathan McCauley. The firm now faces a pipeline of 20 banks and tech giants waiting to issue tokens through its platform.
Twenty firms in line
Those 20 institutions — a mix of banks and technology companies — haven't publicly announced their token plans yet. But they're already working with Anchorage to prepare. The list includes some of the biggest names in finance and tech, McCauley said, though he declined to name them.
A clean sweep since the Genius Act
The Genius Act, passed earlier this year, created a federal framework for stablecoin regulation in the U.S. Since then, Anchorage has won every single large stablecoin issuance mandate up for grabs, McCauley said. That's a clean sweep in a market where banks and fintechs are racing to launch their own digital dollars.
Anchorage, a federally chartered digital asset bank, already holds a custody license and operates a regulated platform for issuing and managing tokens. The firm's ability to offer both custody and issuance under one roof appears to be a key draw.
What the mandates mean
Each mandate represents a client that has chosen Anchorage to issue its stablecoin. That means the token will live on Anchorage's infrastructure, with the bank handling regulatory compliance, smart-contract management, and asset custody. For the clients, it's a way to get to market quickly without building their own tech stack from scratch.
McCauley said the firm expects more mandates to come as banks and tech companies move from planning to execution. The 20 firms in the pipeline are at various stages — some are still evaluating, others are close to launch.
The next big question is timing. None of the 20 have set a public launch date. McCauley didn't offer one either. What's clear is that Anchorage has positioned itself as the go-to issuer for large stablecoin projects under the new regulatory regime.
