The move, announced through Anchorage\u2019s newly released \u201cStablecoin Security Matrix\u201d report, has triggered widespread debate across the crypto industry, with critics accusing the bank of conflicted interests and misinformation.<\/p>\n
\u201cUSDC, AUSD, and USD0 no longer meet Anchorage Digital\u2019s long-term durability criteria,\u201d said Rachel Anderika, Head of Global Operations at Anchorage. The report cites concerns over regulatory oversight, reserve transparency, and issuer concentration risks.<\/p>\n
Anchorage\u2019s scoring system gave USDC just 2 out of 5, highlighting that Circle holds approximately 15% of its reserves in cash across banks \u2014 a vulnerability spotlighted during the Silicon Valley Bank collapse in March 2023, which temporarily caused USDC to depeg below $1.<\/p>\n
The backlash came swiftly. Nick Van Eck, issuer of AUSD, accused Anchorage of spreading misinformation and failing to disclose its own financial ties to USDG.<\/p>\n
\u201cIf this was just a business decision I could understand. But smearing USDC and AUSD with false claims is both frivolous and strange,\u201d Van Eck stated.<\/p>\n
The controversy arises amid mounting pressure for stablecoin regulation. The GENIUS Act, recently passed by the U.S. Senate, aims to establish strict compliance standards for issuers. If approved by the House, the legislation could become law by July.<\/p>\n\n
While S&P Ratings recently gave USDC a \u201cstrong\u201d score, and Bluechip assigned a B+ rating, Anchorage insists that future regulatory alignment and structural independence are critical for long-term viability.<\/p>\n
\u201cWe will only support stablecoins that meet our standards of transparency, independence, and regulatory preparedness,\u201d Anderika said.<\/p>\n
Anchorage\u2019s realignment strategy signals a deepening divide within the stablecoin sector, as regulatory clarity begins to reshape institutional preferences \u2014 and expose new fault lines.<\/p>\n","protected":false},"excerpt":{"rendered":"
Anchorage Digital, a federally chartered crypto custody bank, is urging its institutional clients to move away from major stablecoins like USDC, Agora USD (AUSD), and Usual USD (USD0), recommending instead a shift to the Global Dollar (USDG) \u2014 a stablecoin issued by Paxos and backed by a consortium that includes Anchorage itself.<\/p>\n","protected":false},"author":7,"featured_media":75707,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[71],"class_list":["post-161273","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-stablecoin"],"acf":[],"yoast_head":"\n