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Crypto Custodian Anchorage Phasing Out USDC Use

Crypto News

Cryptocurrency custodian Anchorage Digital has decided it will stop supporting the popular USDC stablecoin.

As Coindesk reported Friday (June 27), this move has provoked sharp criticism from USDC-issuer Circle and other crypto sector players.

The decision followed the recent release of Anchorage’s “Stablecoin Safety Matrix,” which ranks stablecoins based on regulatory oversight and reserve asset management. In addition to USDC, the company is also moving away from two other tokens: Agora USD (AUSD) and Usual USD (USD0).

“Following our Stablecoin Safety Matrix, USDC, AUSD, and USD0 no longer satisfy Anchorage Digital’s internal criteria for long-term resilience,” Rachel Anderika, head of global operations at Anchorage,…

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