Anchorage Digital to step back from leading USDG stablecoin project

Crypto custody and banking firm Anchorage Digital has announced it will hand over leadership of the USDG stablecoin project to the consortium of participating institutions, which includes Robinhood and Kraken. According to CoinDesk, Anchorage CEO Nathan McCauley stated that the company still supports the USDG project, hopes for its success, and will continue to participate. However, he noted that Anchorage may no longer take a leading role as it has in the past. McCauley explained this shift is intended to strengthen the firm's neutrality regarding stablecoins, adding that it is reasonable to adopt a neutral stance rather than favoring a particular one.