The move came after the company partnered with stablecoin issuance platform M0 in April and now has a pipeline of 20 firms that it will help issue stablecoins, according to the report.
“We’re still supportive of [Global Dollar Network], and want to see it succeed, and are still part of the thing,” McCauley said in the report. “But maybe not as up-front of a role as before.”
While Anchorage might have boosted Global Dollar Network’s USDG stablecoin before, the company will now be more neutral on stablecoins, McCauley said.
“It just makes sense to be neutral and not specifically be pushing any one stablecoin,” he said in the report.
The Global Dollar Network was formed in November 2024 as a consortium of FinTech and crypto companies with the aim of accelerating the use of stablecoins worldwide and promoting an asset that provides proportionate economic benefits to its partners. The group introduced USDG as a joint stablecoin pegged to the U.S. dollar.
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Anchorage and M0 announced their partnership on April 30, saying the collaboration is designed to merge M0’s infrastructure capabilities with Anchorage’s regulated issuance experience to serve a “growing universe of stablecoin builders.”
“Stablecoin adoption is expanding across a wider range of use cases and platforms,” McCauley said at the time in a press release. “By partnering with M0, we’re extending our issuance platform to support that growth, while maintaining the regulatory, operational and security standards our partners rely on.”
On Tuesday (May 5), Anchorage said it is exploring a stablecoin issuance model designed to offer institutional stablecoin issuers better liquidity, capital efficiency and security.
The company said this Cashless Reserves model would rely on just-in-time liquidity to meet redemption demand, thereby optimizing treasury management and yield opportunities.
“Stablecoins are becoming core financial infrastructure, but the underlying financial system needs to evolve to meet the needs from digital assets,” McCauley said in the Tuesday press release.
