Recently, I noticed an interesting development happening in the stablecoin market. It's led by Anchorage, but financial institutions and major tech companies are all starting to move into digital asset issuance.

According to the CEO of Anchorage during the consensus conference, since the GENIUS bill was passed, about 20 banks and major tech companies are lining up to issue their own stablecoins through the company. In other words, Anchorage almost monopolizes the main stablecoin issuance licenses in the market. The customer base is also quite interesting, ranging from banks with specific management goals to companies looking to leverage existing distribution channels.

What’s important here is that Anchorage is not just a provider but is at the core of a new trend called agency commerce. Stablecoins and digital assets are trying to fundamentally rebuild traditional money. This shift could fundamentally change the industry landscape, but it still seems to be undervalued in the market.

Looking at Anchorage’s moves, we can see the next phase of the stablecoin market. As the regulatory environment improves, the entry of institutional investors and major corporations will likely accelerate.