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Anchorage Digital Bank issues USAT independently and has not yet obtained permission under the GENIUS Act.

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USAT is independently issued by Anchorage Digital Bank, N.A., with Tether providing technical, branding, strategic, and distribution support. Anchorage discloses that Tether is not the issuer and has no guarantee obligations; USAT and USDT are different products. As of August 31, 2026, there were 175.7 million USAT in circulation, corresponding to reserve assets of $176.4 million. As of October 27, the U.S. Office of the Comptroller of the Currency had not yet initiated the GENIUS Act application process, and USAT has not obtained issuance permission under this act. (Source: Bitcoin.com News)

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