Tether has made a $100 million strategic equity investment in Anchorage Digital, formalizing an existing relationship between the stablecoin issuer and the federally chartered U.S. crypto bank.
The investment, announced by Tether, builds on prior collaboration including Anchorage Digital’s role as issuer of USAt, a dollar‑pegged stablecoin that launched on Jan. 27 and is designed to operate under the federal payment stablecoin framework established by the GENIUS Act in July 2025.
Anchorage Digital Bank, founded in 2017 in San Francisco, is the first federally chartered digital asset bank in the United States and provides custody, settlement, staking and stablecoin issuance services to institutional clients.
The $100 million was invested by Tether Investments, Tether’s El Salvador–based investment arm. The move comes after reports that Anchorage Digital was exploring a $200 million to $400 million capital raise ahead of a possible initial public offering next year.
Tether issues USDt (USDT), the world’s largest stablecoin by market capitalization, with roughly $185 billion in circulation — about 60% of the stablecoin market, per DefiLlama data.
Tether reported more than $10 billion in net profit for 2025 and $6.3 billion in excess reserves in its fourth‑quarter attestation, underscoring the scale of its balance sheet and explaining recent acquisitions and investments. CEO Paolo Ardoino has said Tether has invested in over 120 companies using its profits and expects the portfolio to expand.
Recent investments include a stake in Ledn, a Bitcoin-backed consumer lending platform, and leading an $8 million round in Speed, a Bitcoin payments company focused on enterprise stablecoin transactions over the Lightning Network. Tether was also reported to be weighing a $1.15 billion investment in German robotics firm Neura.
Tether has been increasing its Bitcoin holdings as well. On Jan. 1 it disclosed the addition of 8,888 BTC at the end of 2025, bringing total holdings to more than 96,000 BTC. Were Tether a public company, it would rank as the second‑largest corporate holder of Bitcoin, according to BitcoinTreasuries.NET.
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