Anchorage Digital Publishes Stablecoin Safety Matrix, Enables Auto-Conversions to Safe Stablecoins

Anchorage Digital, the global crypto platform for innovators and investors, today published its first Stablecoin Safety Matrix—a public industry resource designed to bring greater transparency to the evolving landscape of dollar-backed stablecoins. Simultaneously, Anchorage Digital announces the release of new stablecoin conversion capabilities alongside plans to phase out support for USD Coin (USDC), Agora USD (AUSD), and Usual USD (USD0).

These actions reflect Anchorage Digital’s commitment to providing infrastructure and insights that help institutions participate more securely and confidently in the digital asset economy.

“Not all stablecoins are created equal,” said Rachel Anderika, Head of Global Operations at Anchorage Digital. “Institutions need transparency into the assets they hold—and capabilities that help them act on that information.”

Introducing the Stablecoin Safety Matrix

The Stablecoin Safety Matrix, published by Anchorage Digital, evaluates fiat-backed stablecoins based on the regulatory status of their respective issuers as well as the robustness of their reserves. The matrix assesses multiple dimensions including liquidity, regulatory structure, depeg history, and concentration risk.

“The stablecoin matrix brings clarity to a fast-moving space—enabling institutions and the wider market to assess which stablecoins demonstrate resilience and long-term viability,” said Anderika.

The matrix is available to the public as an open resource.

Explore it here: Stablecoin Safety Matrix

This release follows the appointment of Sergio Mello, Head of Stablecoins at Anchorage Digital, to the advisory board of Stablecoin Standard—underscoring Anchorage Digital’s ongoing role in helping shape stablecoin policy and infrastructure development globally.

Phasing Out Support for USDC, USD0, and AUSD

Anchorage Digital will begin a guided phase-out of USDC, AUSD, and USD0, with a transition window to direct institutional clients to convert balances into stablecoins that meet regulatory and operational benchmarks wherever possible.

“Following our Stablecoin Safety Matrix, USDC, AUSD, and USD0 no longer satisfy Anchorage Digital’s internal criteria for long-term resilience,” said Anderika. “Specifically, we identified elevated concentration risks associated with their issuer structures—something we believe institutions should carefully evaluate. Anchorage Digital is focused on supporting stablecoins that demonstrate strong transparency, independence, security, and alignment with future regulatory expectations.”

We expect these changes will spur positive development and innovation within the stablecoin sector.

Anchorage Digital will provide dedicated communications and guidance to ensure clients can transition efficiently.

Seamless Conversion Across Supported Stablecoins

To help institutions take action on the safety matrix, Anchorage Digital is introducing single-click and fully automated stablecoin conversion capabilities for clients. Starting with conversion from USDC to Global Dollar (USDG), these streamlined tools will enable asset holders to shift to stablecoins that meet the highest industry standards—without friction.

Anchorage Digital’s trading desk also offers unified pricing and access to global liquidity across supported stablecoins, improving execution and simplifying workflows.

Institutions benefit from:

• 1:1 conversions at no cost between supported stablecoins
• Consolidated liquidity streams through Anchorage Digital trading
• Instant conversion designed for institutions’ operational needs

Anchorage Digital may apply a custody fee to lower-rated stablecoins in the future, consistent with its risk-aligned approach.

Setting a High Standard for Stablecoins

Anchorage Digital is taking clear, deliberate steps to help shape a strong, resilient future for stablecoins. By publishing a transparent safety matrix, arming clients with conversion capabilities, and initiating the phase-out of USDC, AUSD, and USD0, the company is contributing tools the broader industry can rely on.

This is not just about Anchorage Digital, it’s about building the institutional foundations stablecoins need to thrive. In an environment where regulatory expectations are advancing through frameworks like the GENIUS Act and STABLE Act—and the world shifts toward compliance with these frameworks—Anchorage Digital is helping define what good looks like for institutions, for issuers, and for the digital asset ecosystem at large.

With this initiative, Anchorage Digital reaffirms its role as a trusted partner in building the standards and infrastructure the industry needs to move forward together.