Anchorage Digital Bank releases its first USAT reserves report.

Anchorage Digital Bank released its first USAT reserve report. As of January 31, 2026, there were 17,501,391 USAT in circulation, with reserve assets of $17,604,716 and excess reserves of $103,325. The reserves consist of US dollar cash and reverse repurchase agreements solely secured by US Treasury bonds, held in a separate trust account. USAT is issued by Anchorage Digital Bank, regulated by the OCC, and backed by Tether. The statement also emphasizes that USAT is not a legal tender and is not protected by the FDIC/SIPC.