The Intersection of Stablecoins, Crypto and Banking with Nathan McCauley of Anchorage Digital
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Feb 10, 2026 Nathan McCauley, co-founder and CEO of Anchorage Digital, a federally chartered digital asset bank. He discusses Anchorage’s role issuing USAT with Tether, how regulated stablecoins bridge retail and institutional use, and the regulatory and infrastructure work that enabled institutional crypto adoption.
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Tether’s US Strategy Combines Global Reach And Regulation
- Tether pursued a US-regulated stablecoin to combine global distribution with U.S. regulatory trust.
- Nathan McCauley says USAT becomes a "made in America" product benefiting from Tether's global network.
Stablecoins Scale Like Social Networks
- Tether views stablecoins as social networks that need global distribution to scale.
- Nathan McCauley argues USAT is now one of the most regulated stablecoins under federal oversight.
Dual Go-To-Market: Retail Listings And Institutional Adoption
- Anchorage and Tether aim to serve both retail listings and institutional adoption simultaneously.
- Nathan McCauley highlights USAT's instant listings and institutional hires to target both markets.

