30 July, 2026 – Anchorage Digital Bank N.A. has released the USA₮ Reserve Report as of June 30, 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 June 30, 2026, there were 176,794,845 redeemable USA₮ tokens outstanding, an increase of 20,278,331 tokens from May’s 156,516,514. USA₮ added nearly 30% more tokens in June than it did in May, when circulation increased by 15,665,564 tokens. Total circulation grew approximately 13% month over month.
Reserve assets increased alongside circulation, rising by $20,390,357 to $177,423,363. Reserves exceeded redeemable tokens outstanding by $628,518, compared with a surplus of $516,492 in May, representing an increase of approximately 22%.
Approximately $159.7 million, or 90% of the reserve portfolio, was held in overnight reverse repurchase agreements collateralized by U.S. Treasury securities. The remaining $17.7 million was held in cash. Reserve assets were maintained in segregated, unencumbered fiduciary trust accounts for the benefit of USA₮ holders.
After April established a significantly larger operating base and May demonstrated that the scale could be sustained, June delivered another increase in activity. USA₮ has grown from approximately 22.1 million tokens outstanding at the end of March to 176.8 million at the end of June, while reserve assets have continued to exceed redeemable tokens outstanding across each monthly report.
“USA₮ issuance grew nearly 30% from May to June, with reserves once again exceeding circulation,” said Paolo Ardoino, CEO of Tether. “Consistent month-over-month growth like this reflects real demand for a dollar designed for the U.S. market. That’s what continues to guide how we build, and what we’re focused on delivering as USA₮ grows.”
“June gives us another month of evidence that USA₮ is scaling,” said Bo Hines, CEO of Tether USA₮. “Reserves and surplus backing continued to move in step with circulation, reinforcing the consistency institutions expect from a regulated digital dollar. The advancement of the Clarity Act adds to the market’s confidence in the U.S. market for stablecoins, and a clearer framework will give institutions greater certainty and support the next phase of adoption.”
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 Bank N.A
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.
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.
Important Note:
USA₮ is not legal tender (as described in section 5103 of title 31, United States Code) and is not issued, backed, approved, or guaranteed by the U.S. government. USA₮ will not be subject to the insurance protections of the Federal Deposit Insurance Corporation (FDIC), the Securities Investor Protection Corporation (SIPC), or any other government agency.
The issuer of USA₮ is Anchorage Digital Bank, N.A.
