Anchorage is stepping back from Robinhood and Kraken-backed stablecoin group

Anchorage Digital co-founder and CEO Nathan McCauley said determination volition beryllium ‘increased neutrality’ from his steadfast connected stablecoins.

May 11, 2026, 4:30 p.m. 1 min read

Anchorage Digital, the first federally chartered crypto bank successful the U.S., says it volition instrumentality a backmost spot to the Global Dollar stablecoin (USDG) consortium, which includes Robinhood and Kraken.

USDG, which has a circulating supply of astir $3 billion, is issued by Paxos Digital Singapore and supervised by the Monetary Authority of Singapore. Other members see Galaxy Digital, OKX, Visa, Worldpay and Bullish (the proprietor of CoinDesk).

“We're inactive supportive of it, and privation to spot it succeed, and are inactive portion of the thing,” said Anchorage Digital co-founder and CEO Nathan McCauley successful an interview. “But possibly not arsenic up-front of a relation arsenic before.”

McCauley said that previously, Anchorage mightiness person been boosting USDG specifically, but present the steadfast volition instrumentality a much neutral approach. “I deliberation 1 of the things you're gonna spot from america is accrued neutrality connected the stablecoins. It conscionable makes consciousness to beryllium neutral and not specifically beryllium pushing immoderate 1 stablecoin.”

Anchorage recently mentioned arsenic galore arsenic 20 banks and tech giants are presently looking to contented stablecoins with the San Francisco-based custody firm. In April, Anchorage said it would spouse with stablecoin issuance level M0, which works with MetaMask and Bridge.

“With america becoming a white-label stablecoin issuer for truthful galore antithetic groups, you commencement to deliberation astir what's the inducement structure, and is everything inactive aligned,” McCauley said.

Paxos did not respond to requests for remark by property time.