Anchorage Digital has partnered with Securitize to enable direct minting and redemption of stablecoins issued by Anchorage Digital Bank, N.A., removing third-party intermediaries for institutional clients operating on Securitize’s tokenization platform.
The arrangement addresses a key friction in tokenized markets where institutions often apply strict custody and counterparty requirements to the securities leg of a trade, but use a separate set of providers for the cash leg. Under the agreement, eligible institutions can access digital dollars through a primary relationship with the issuing bank rather than sourcing them from secondary liquidity providers.
Securitize reports $4.3 billion in tokenized assets under management and supports funds tied to Apollo, BlackRock, BNY, Hamilton Lane, KKR and VanEck. Its regulated infrastructure includes broker-dealer, transfer agent, fund administrator and alternative trading system functions.
The partnership connects two Anchorage-issued stablecoins to the Securitize ecosystem: USDtb, created with Ethena Labs, and USAT, developed with Tether. As of August 31, 2026, roughly 99% of USDtb’s $530 million in reserves were held in BlackRock’s BUIDL fund, which is itself tokenized by Securitize. That creates a direct operational link between a tokenized Treasury fund and the stablecoin reserve asset used for settlement.
Anchorage Digital CEO Nathan McCauley said federally supervised issuance can help tokenization reach institutional scale. Securitize CEO Carlos Domingo said the cash side of a digital transaction should face scrutiny similar to the securities side. The companies emphasize that the channel is intended for eligible institutional clients and does not imply that all balances are FDIC-insured or that every stablecoin uses identical reserve and custody arrangements.
The rollout is expected to proceed in phased institutional deployment during the current operating cycle, with adoption likely to depend on redemption terms, supported networks, fees, minimums and liquidity handling outside banking hours.
