Tether announced a $100 million investment in Anchorage Digital, valuing the company at $4.2 million. While a partnership already existed between the two, this agreement deepens the relationship and positions Tether as one of the best stablecoins for regulated operations and institutional services.
According to the agreement, Tether acquired $100 million in equity from Anchorage Digital, a transaction that valued the firm at $4.2 billion. Anchorage is the first federally chartered digital asset bank in the United States, operating under the supervision of the Office of the Comptroller of the Currency (OCC). This license allows it to offer custody, staking, trading, settlement, and stablecoin issuance services to institutional clients within the regulatory framework of a national bank.
Anchorage’s regulatory structure is a central point of the agreement, as U.S. Bank provides custody services for the reserves backing the payment stablecoins issued by Anchorage Digital Bank. Furthermore, the entity has completed five years under federal supervision and obtained the lifting of a prior consent order from the OCC, as detailed in the announcement. In this context, the transaction is presented as a way for Tether to anchor part of its operations in a regulated banking infrastructure within the United States.
For Tether, the investment fits into a strategy focused on strengthening operational security, regulatory compliance, and institutional scale. The company reported over $10 billion in profits for 2025, $6.3 billion in excess reserves, and a USDT market capitalization that reached $187 billion in the fourth quarter of 2025, with total reserves of $192.9 billion.
Tether’s strategy and Anchorage’s key regulatory role
This growth is coupled with additional expansion plans. Tether indicated its intention to invest approximately $500 million over the next six months to build a global position in Bitcoin mining, a move that could influence both its liquidity profile and the composition of its balance sheet in the short and medium term.
At the same time, the company has a history of regulatory and legal scrutiny. In the past, it has faced legal settlements and questions about the transparency of its reserves, including a $300 million payment related to a Chapter 11 case. These controversies remain a relevant factor in risk assessments by investors and regulators.
One of its previously reported $20 billion target values has been reduced to around $5 billion, amid investor resistance to a proposed $500 billion valuation and persistent regulatory concerns. The adjustment suggests a more cautious strategy regarding access to external capital.
For traders and institutional managers, the Anchorage deal partially reduces counterparty uncertainty by linking one of the largest stablecoin issuers with a federally chartered bank. This may alleviate operational frictions in the institutional use and custody of stablecoins, although it does not completely eliminate the risks associated with regulation and reserve transparency.
Looking ahead, the market will closely monitor how Anchorage integrates USDT and other regulated stablecoin initiatives into formal banking processes. Future disclosures from Tether regarding reserve composition and governance will also be key. These factors will determine whether the agreement substantially alters the counterparty risk profile and encourages a greater flow of stablecoins into regulated institutional channels.
