Anchorage’s USDGO Expands to Morph as Stablecoins Vie for Enterprise Settlement Standard

USDGO, a U.S. dollar stablecoin issued by Anchorage Digital Bank N.A., has launched natively on Ethereum Layer-2 settlement network Morph. The integration extends USDGO's multi-chain reach, providing businesses on Morph access to a federally regulated settlement asset for cross-border transactions.

The move coincides with the stablecoin market's explosive growth, with total supply nearing $296 billion—a 50% increase from $198.7 billion at the start of 2025. Regulatory clarity, particularly the GENIUS Act signed into law on July 18, 2025, has been the key catalyst, establishing the first comprehensive U.S. framework for dollar-backed payment stablecoins.

USDGO stands apart as the only stablecoin issued directly by a federally chartered institution under OCC oversight. With over $800 million in circulation, its expansion to Morph represents an extension of compliance infrastructure rather than a mere market grab. "USDGO's compliance credentials make it an ideal settlement medium for enterprise applications building on Morph," said Renna Ba, Morph's head of ecosystem.