31 August, 2026 – Anchorage Digital Bank N.A has released the USA₮ Reserve Report as of July 31, 2026, prepared under the American Institute of Certified Public Accountants’ “2025 Criteria for Stablecoin Reporting: Specific to Asset-Backed Fiat-Pegged Tokens.”
As of 11:59:59 p.m. UTC on July 31, 2026, there were 175,245,527 redeemable USA₮ tokens outstanding. USA₮ has now maintained more than $175 million in circulation for two consecutive month-end reports, following an approximately 10x increase from 17,501,391 tokens outstanding at the end of January.
Reserve assets totaled $175,906,606. Reserves exceeded redeemable tokens outstanding by $661,079, the highest surplus reported to date and an increase of approximately 5% from $628,518 in June.
Approximately $158.4 million, or 90% of the reserve portfolio, was held in reverse repurchase agreements collateralized by U.S. Treasury securities. The remaining $17.5 million was held in cash. Reserve assets were maintained in segregated, unencumbered fiduciary trust accounts for the benefit of USA₮ holders.
After USA₮ expanded rapidly from January through June, the July report shows that the substantially larger scale established earlier this year has held. Circulation has remained above $175 million across two consecutive month-end reports, while reserve assets have continued to exceed redeemable tokens outstanding and the reserve surplus has reached a new high.
“Stablecoins are becoming a core part of the technology stack for moving money, and USA₮ is being built for a financial system that increasingly operates on digital rails,” said Paolo Ardoino, CEO of Tether. “The opportunity goes far beyond putting dollars on a blockchain. We are focused on building technology that can make dollars faster and easier to move across payments, settlement and new financial applications, while supporting the scale and reliability those use cases require.”
“USA₮ is being built to give businesses and institutions across the United States a digital dollar designed around the standards they expect from the American financial system,” said Bo Hines, CEO of Tether USA₮. “With more than $175 million in circulation for a second consecutive month, federal banking oversight and transparent reserve reporting, USA₮ is establishing a strong foundation for how digital dollars can be used across the U.S. economy.”
USA₮ continues to expand across payments, settlements, treasury operations, and digital platforms as demand grows for transparent digital dollars issued through federally supervised U.S. banking infrastructure.
For more information, please reference the USA₮ Reserve Report here.
About USA₮
USA₮ is a dollar-backed stablecoin that Tether, the global leader in stablecoin technology, has collaborated with Anchorage Digital Bank to launch. Purpose-built to serve the U.S. market and support American regulatory standards, USA₮ is a foundational rail for the next generation of American commerce, trade, and finance.
USA₮ underscores Tether’s commitment to driving U.S. dominance and leadership in the evolving digital asset economy. As part of the broader Tether ecosystem, USA₮ aims to set a new benchmark in the U.S. for utility-driven stablecoins designed to deliver long-term value, strong governance, and real-world applications.
About Anchorage Digital
Anchorage Digital is the proven infrastructure layer for modern financial markets that gives institutions a single platform to participate in digital assets, including prime services, tokenization, stablecoins, and the governance framework for agentic finance. Home to Anchorage Digital Bank N.A., America’s first federally regulated digital asset bank, Anchorage Digital also serves institutions through Anchorage Digital Singapore, licensed by the Monetary Authority of Singapore; Anchorage Digital NY, which holds a BitLicense from the New York Department of Financial Services; and self-custody wallet Porto by Anchorage Digital. Anchorage Digital Bank also offers fiat custody services through an FDIC-insured, licensed sub-custodian. Anchorage Digital is funded by leading institutions including Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa, with a valuation of $4.2 billion. Founded in 2017 in San Francisco, California, Anchorage Digital has offices in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota. Learn more at anchorage.com, X, YouTube, and LinkedIn.
Press Contacts: Anchorage Digital
press@anchorage.com
Forward-Looking Statements:
Certain statements in this press release may be forward-looking in nature. The words “will”, “believe,” “expect,” “estimate,” “could,” “should,” “intend,” “may,” “plan,” “seek,” “anticipate,” “project” and similar expressions, among others, generally identify “forward-looking statements,” which speak only as of the date the statements were made. The matters discussed in these forward-looking statements are subject to a number of risks, trends, and uncertainties that could cause actual results to differ materially from those projected, anticipated, or implied in the forward-looking statements. None of Tether nor any other person is responsible for updating or revising any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
