Tether Launches USA₮, the Federally Regulated, Dollar-Backed Stablecoin (Tether)
Tether launched USA₮, a U.S. dollar-backed stablecoin specifically designed for the U.S. market under the GENIUS Act framework. Issued by Anchorage Digital Bank (America’s first federally regulated stablecoin issuer), USA₮ aims to provide institutions with a compliant digital dollar alternative while Tether’s global USD₮ continues operating worldwide. The stablecoin features Cantor Fitzgerald as reserve custodian, bank-grade compliance infrastructure, and is initially available on major exchanges including Bybit, Crypto.com, Kraken, OKX, and Moonpay. This launch represents Tether’s effort to strengthen U.S. dollar dominance in the digital economy while meeting American regulatory standards. The press release notes that Tether is the 17th-largest holder of U.S. Treasuries globally, ahead of sovereign holders including Germany, South Korea, and Australia. [Source: Tether]
ECB Paves Way for Acceptance of DLT-Based Assets as Eligible Eurosystem Collateral (ECB)
The European Central Bank (ECB) announced that it will accept marketable assets issued using distributed ledger technology (DLT) as eligible collateral for Eurosystem credit operations starting March 30, 2026. These DLT-based assets must meet standard Eurosystem collateral eligibility criteria and be available for settlement in systems compliant with the Central Securities Depository Regulation (CSDR) and reachable via TARGET2-Securities (T2S). The Eurosystem is also launching a work plan to explore whether DLT-native assets not represented in traditional securities settlement systems could become eligible collateral in the future, taking a staggered approach that considers market developments and evolving regulations like the DLT Pilot Regime and Markets in Crypto-Assets Regulation (MiCAR). This initiative reflects the ECB’s commitment to supporting innovation and technological progress in financial markets while maintaining safety and efficiency standards. [Source: ECB]
Upcoming Speaking Engagements:
The Digital Euro Conference 2026 (Frankfurt, March 26) will explore the future of money with a focus on CBDCs, stablecoins, and commercial bank tokens. This hybrid event offers the perfect platform to understand the future of digital money! [Register here and get 20% off the regular ticket price by using the Kiffmeister20 code!]
I produce a monthly digest of digital fiat currency (DFC) developments exclusively for the official sector (e.g., central banks, ministries of finance and international financial institution (e.g., the BIS, IMF, OECD, World Bank)) plus academics and firms that are active in the DFC space (commercial banks, technology providers, consultants, etc.). (DFCs include central bank digital currency (CBDC), stablecoins and tokenized deposits.) It goes out via email on the first business day of every month, and if you’re interested in being on the mailing list, please email me at john@kiffmeister.com.
