Crypto Custodian for the gradual disposal of USDC, while provoking the reverse reaction

Anchorage Digital, an encryption guard and a federal legal bank, said that he will start to abandon the direct institutional customers to convert USDC

And other stablecoins in the distinctive symbol competing with the global dollar (USDG) In a comprehensive step that has caused criticism from industrial players.

The company issued “Stablecoin safety matrix“This is classified as Stablecoins on the basis of organizational supervision and reserve asset management on Tuesday.

The USDC issued by the department, the second largest stablecoin with a $ 61 billion and common supply among institutions, is no longer suitable under Anchorage’s safety framework. Two small symbols, smaller, Agora USD (Ausd) And the usual US dollar (USD0)And it was also scheduled to remove. Stablecoins are encrypted currencies with their prices linked to external origin, mostly to US dollars.

“In the aftermath of our Stablecoin Matriph, USDC, AUSD and USD0 USD0 are no longer fulfilling Anchorage Digital criteria for long -term flexibility,” said Rachel Andrica, Head of World Operations at Anchorage, said. statement Judgment of the decision. “Specifically, we have identified the high focus risks associated with source structures – something we believe should be carefully evaluated.”

“Anchorage Digital focuses on the support of Stablecoins, which shows strong transparency, independence, security and alignment with future organizational expectations.”

Stablecoin race heats up

The move came at a time when competition in the Stablecoin Market with international banks, payment companies and competing encryption companies for the center in the fast sector is heated.

The US Senate recently passed the genius law that aims to enact clear rules for the category of assets and exporters, which can open the gates to adopt wider. On Friday, Crypto Czar David Sacks suggested that the bill become a law as soon as possible next month, pending traffic in the House of Representatives.

Reports City and Carted Standard Reports expected that the assets category will grow from the current $ 250 billion to trillion over the next few years. circle (CRCL)The company behind the USDC icon, has recently become public and has risen in the evaluation.

Anchorage USDC gave a 2 degree of 5 to organizational supervision and reserve management. The report said that there was no “essential caution” and that this department had a large amount – about 15 % – of its cash reserves. It is worth noting that USDC may temporarily stumble in March 2023 when Bank Silicon Valley was exposed. Tether’s Usdt, the world’s largest stablecoin in the world, had a higher classification with a marina indicating that it is organized in El Salvador.

S & P usdc classifications were ranked “strong”, its second best classification in the stability of Stablecoin. Bluechip, Cablecoin Cracking Company, give USDC B+ Classification in Economic Safety Classification.

Industry leaders are pushing back

Anchorage’s decision met with a severe decline.

Nick Van Eyk, whose company is Agora Ausd, accused Anchorage of distorting facts about Stablecoin and failed to reveal its commercial interest in global dollars. Usdg is Release By Paxos and supported by a consortium from companies that share income from backup assets that support the distinctive symbol. Anchorage is a founding partner in this union.

“If Anchorage cleansed USDC and AUSD just to determine the priorities of Stablecoins that have an economic interest, I will understand it as a business decision,” he said in the X. “But an attempt to dismantle AUSD and USDC about” security concerns “, while publishing false information, is unlimited and strange.”

“I have never seen such a clear piece being implemented very badly,” He said Viktor Bunin, a protocol specialist at Digital Asset Excination Coinbase. Coinbase It was launched jointly USDC with Circle in 2018, and the revenues of backup assets that support the distinctive symbol.

Jean Van Eyk, Nick Van Eyk’s father and CEO of Asset Director Van Ike, who runs AUSD assets, doubted risk assessment.

“If you need laughter, check this” safety “matrix before Anchorage pulled it. According to the matrix, USDC Circle’s (The second largest stablecoin) in the world) And ausd (100 % supported by Treasury bonds) You have reserve issues, “it is to publish On X. “Oh, and by the way, AUSD is organized by different organizers.”

Serkel defended, in a statement sent to Coindsk, the “long -term compliance record” and “a strong reputation as a pioneer in this field.”

A spokesman for the department said: “We are committed to the prevailing American regulatory standards that apply to the leading companies in the field of technology and payments, and we were the first Stablecoin source to achieve complete compliance with the European Union encryption law,” said a spokesman for the department. “USDC is 100 % supported by FIAT reserves and has strong preliminary liquidity through a sophisticated network of banks, which represents what we consider the highest levels of transparency, safety and operational flexibility in our industry.”

The support for the circle and Agura came outside the camp of two stablecoins.

“For the registry, the Bito does not drop USDC,” He said Chen Fang, Crypto Custodian Bitgo revenue.

“Agora and Circle are long partners for us, and our customers depend on safe and transparent bars to settle the dollar,” He said Joshua LIM, head of market participation at Crypto Prime Broker Falconx, adding that his company is “ready to support customers using AUSD and USDC.”