Redeeming USAT stablecoins for U.S. dollars requires an active client account relationship under a written agreement with issuer Anchorage Digital Bank.

Tokens pegged to stable value, usually the US dollar, spanning issuers and reserves, depegs, and adoption by banks and payment networks.

Supply, adoption, and competitive dynamics of fiat-pegged tokens, tracking issuers like Tether and Circle and the payment and trading flows they power.