Anchorage Digital is preparing to launch a rewards program for USDt₃ and USDe holders

On November 26th, the federally chartered crypto bank in the United States, Anchorage Digital, is getting ready to launch a reward program for the holders of USDtb and USDe. It is aiming to avoid violating the U.S. stablecoin-related laws by directly providing income. Anchorage declared that institutions can now hold these two tokens on the platform of Anchorage 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), which enables Anchorage to operate within the limitations of the GENIUS Act. This Act was passed this year to set up a legal framework for the rapidly expanding stablecoin industry. It prohibits stablecoin issuers from paying interest to users to prevent "unregulated banking business" and is equivalent to prohibiting interest-bearing stablecoins. Anchorage also stated that whether it is the underlying stablecoins or the related rewards, they are safeguarded by their industry-leading custody and security system. "Our reward program is provided entirely by an entity that operates 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.