Anchorage is stepping back from Robinhood and Kraken-backed stablecoin group

Anchorage is stepping back from Robinhood and Kraken-backed stablecoin group

Anchorage Digital co-founder and CEO Nathan McCauley said there will be ‘increased neutrality’ from his firm on stablecoins.

Anchorage is stepping back from Robinhood and Kraken-backed stablecoin group - Technology Shout

Anchorage Digital, the first federally chartered crypto bank in the United States, said it will give way to a global U.S. dollar stablecoin (USDG) alliance that includes Robinhood and Kraken. USDG has a circulating supply of approximately US$3 billion, is issued by Paxos Digital Singapore, and is regulated by the Monetary Authority of Singapore. Other members include Galaxy Digital, OKX, Visa, Worldpay and Bullish (owner of CoinDesk). “We still …