TL;DR:
- Sustained circulation: Anchorage Digital Bank reported 175,245,527 Tether USA₮ tokens in circulation as of July 31, 2026.
- Record surplus: Reserve assets totaled $175,906,606, posting a $661,079 surplus against issued liabilities.
- Backing composition: 90% of reserves ($158.4 million) was held in reverse repurchase agreements backed by U.S. Treasury securities, alongside $17.5 million in cash.
According to the official attestation report released by Anchorage Digital Bank N.A. this August 31, Tether’s USA₮ maintained its circulation above $175 million at the close of July 2026.
The accounting document, prepared under American Institute of Certified Public Accountants (AICPA) standards, confirmed an exact supply of 175,245,527 redeemable tokens. This figure consolidates two consecutive months above $175 million, following the expansion from the 17,501,391 tokens recorded at the end of January 2026.
The custodian banking entity detailed that total allocated reserve assets reached $175 million as of July 31.
This yielded a net reserve surplus of $661,079 in favor of the trust structure. The Anchorage Digital Bank report indicates that this amount represented the highest surplus reported to date for the digital asset, surpassing by 5% the $628,000 recorded at the close of June.
Custody Structure and Backing Portfolio Composition
The monthly audit broke down the distribution of collateral deposited across segregated trust accounts. Approximately $158.4 million—equivalent to 90% of the total portfolio—corresponded to reverse repurchase agreements (reverse repo) collateralized by U.S. Treasury securities. The remaining $17.5 million remained in cash deposits within the federally regulated banking institution.
Technical documentation highlights that all backing assets remain unencumbered and held in exclusive trust administration for token holders.
Regarding this institutional deployment, Paolo Ardoino, CEO of Tether, noted in the official statement that the operational objective focuses on providing dollar-rail infrastructure for payments and settlements within regulated financial applications. Meanwhile, Bo Hines, CEO of Tether USA₮, pointed out that federal banking oversight aims to align token issuance with corporate standards across the U.S. market.
The asset’s growth represents a tenfold expansion in its circulating base during the first seven months of 2026.
According to the firm’s historical logs, the supply grew from 17.5 million units in January to surpass 175 million in June, a scale that remained intact throughout the July reporting cycle. Industry analysts emphasize that this trajectory reflects the progressive integration of the stablecoin into corporate treasury and interbank settlement platforms.
The presentation of the next USA₮ reserve attestation report for August 2026 is scheduled for late September by Anchorage Digital Bank N.A.
