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Anchorage Digital is preparing to launch a rewards program for USDt₃ and USDe holders
BlockBeats News, November 26th, the Federally Chartered Crypto Bank in the United States, Anchorage Digital, is preparing to launch a reward program for holders of USDtb and USDe, while avoiding violating U.S. stablecoin-related laws by directly providing income.
Anchorage stated: Institutions can now hold these two tokens on Anchorage's platform and earn rewards on idle assets without the need to stake or lock up assets. The rewards are issued by Anchorage Digital Neo Ltd. (a separate entity from Anchorage Digital Bank), allowing Anchorage to operate within the constraints of the GENIUS Act.
This Act was passed this year to establish a legal framework for the rapidly growing stablecoin industry, which prohibits stablecoin issuers from paying interest to users to avoid "unregulated banking business" and is equivalent to prohibiting interest-bearing stablecoins.
Anchorage stated: "Whether it's the underlying stablecoins or related rewards, they are protected by our industry-leading custody and security system." "Our reward program is provided entirely by an entity operating independently from Anchorage Digital Bank." The program is self-funded by the company to enable institutions to achieve greater flexibility and capital efficiency in fund management.
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