PANews reported on October 14th that Ethena Labs announced on the X platform that the USDtb smart contract has officially migrated to Anchorage Digital. This migration marks the completion of the stablecoin's "localization" compliance process, making it a compliant stablecoin issued under the US federal regulatory framework under the GENIUS Act.

As part of the GENIUS agreement, Anchorage Digital must maintain full control over the token minting and redemption processes. Consequently, the management of the USDtb smart contract has been transferred to keys held by Anchorage Digital Bank. The smart contract has subsequently been upgraded to reflect the parameters required for ongoing operations.