Anchorage Issues USAT as OCC’s GENIUS Act Application Process Remains Unopened

Anchorage Digital Bank, N.A. is the sole issuer of USAT, while the OCC had not opened the GENIUS Act application process by Oct. 27, and public materials did not show USAT authorized under the law. Tether provides technology and supports USAT’s branding, strategy and distribution. It is not the issuer and has no obligation to redeem or guarantee USAT. USAT and USDT are separate products with different issuers and legal arrangements. Anchorage’s terms allow only approved customers to mint or redeem USAT directly. Other holders generally must use exchanges or secondary markets. As of Aug.

Source: TokenPost