Overview
- Anchorage Digital said it will reduce its visible role in the Global Dollar (USDG) alliance and adopt neutrality across stablecoins, according to CEO Nathan McCauley.
- The firm is building a white‑label issuance stack for institutions, with about 20 potential partners exploring launches that require Anchorage to reassess incentives to prevent conflicts of interest.
- USDG remains in market under Paxos Digital Singapore with oversight from Singapore’s Monetary Authority, and circulating supply is reported near $3 billion as Paxos declined to comment.
- Members of the USDG group include Robinhood, Kraken, Galaxy Digital, OKX, Visa, Worldpay and Bullish, and platforms are integrating the token into trading, payments and yield features.
- Coverage frames Anchorage’s shift as part of a move toward many regulated dollar tokens and competition over the plumbing that issues and custodies them, a push underscored by Anchorage’s April partnership with M0.