Anchorage releases first USAT attestation showing $17.6 million in reserves backing Tether’s US stablecoin
Anchorage Digital Bank released the first reserve attestation for Tether's USAT stablecoin, showing $17.6 million in backing reserves as of January 31.Summary
Anchorage Digital Bank has issued the inaugural reserve attestation for USAT, Tether's federally regulated U.S. stablecoin, confirming $17,604,716 in reserves backing the 17,501,391 USAT tokens outstanding as of January 31, representing a slight over-collateralization.
The reserves are composed of U.S. dollar cash and reverse repurchase agreements collateralized by U.S. Treasury securities, held in segregated fiduciary trust accounts. USAT launched on January 27, issued directly by Anchorage Digital Bank under OCC supervision, positioning it as Tether's U.S.-compliant alternative to the USDT token.
This attestation is an early transparency milestone for USAT, which was launched following the GENIUS Act requirements for regulated stablecoins to hold high-quality, short-term assets. Tether CEO Paolo Ardoino noted the report signals demand for a resilient, dollar-backed asset for the U.S. market, while Anchorage CEO Nathan McCauley emphasized that transparent attestations are crucial for institutional settlement at scale.
(Source：The Block)