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Anchorage Digital is preparing to launch a rewards program for USDtb and USDe holders.
On November 26, Anchorage Digital, a federally chartered cryptocurrency bank in the United States, is preparing to launch a rewards program for holders of USDtb and USDe, while avoiding violations of U.S. stablecoin laws by not providing returns directly. Anchorage stated that institutions can now hold these two tokens on Anchorage's platform and earn rewards on idle assets without needing to stake or lock up assets. The rewards are distributed by Anchorage Digital Neo Ltd. (a separate entity from Anchorage Digital Bank), allowing Anchorage to operate under the constraints of the GENIUS Act. This act, passed earlier this year, sets a legal framework for the rapidly evolving stablecoin industry, prohibiting stablecoin issuers from paying interest to users to avoid 'unregulated banking,' which is effectively a ban on interest-bearing stablecoins. Anchorage stated, 'Both the underlying stablecoins and the related rewards are protected by our industry-leading custody and security systems.' 'Our rewards program is completely provided through an entity that operates independently from Anchorage Digital Bank.' The program is funded by the company to give institutions greater flexibility and capital efficiency in fund management.