Crypto Bank Anchorage Digital to enter Asia
Anchorage Digital makes an entry into Asia with five new partnerships in the region.
The institutional crypto platform has partnered with cryptocurrency exchange Bitkub, asset management firm Dream Trade, blockchain investment firm FBG Capital, venture firm IOSG Ventures and digital asset provider Analpha.
The company has previously partnered with the internet infrastructure provider GMO-z.com Trust Company in Asia.
Anchorage holds the record for becoming the first crypto bank to receive a federal charter in the United States after its establishment in 2017. Diogo Mónica – Anchorage’s co-founder and president – told The Block that this is the highest order that banks can receive in the US.
He added that getting a charter is not all sunshine and paradise. Instead, it is also a burden as it requires a level of openness and maturity to meet the Charter’s requirements.
The company said more Asian customers have chosen Anchorage because of its strong regulatory status in the United States.
“We appreciate Anchorage’s attention to regulatory compliance and control of the digital assets they support,” Will Chiu, Anthalpa’s chief investment officer, said in a statement.
“Through their combination of crypto-native fluency and understanding of traditional finance needs, they continue to support us in expanding the use of digital assets,” he added.
The company’s business model involves providing institutions with integrated financial services and infrastructure solutions. They can include solutions such as custody, staking and trading services.
Recently, the startup raised $350 million in a Series D funding round led by investment firm KKR. Other participants included traditional players such as Goldman Sachs and Thoma Bravo, along with crypto-native firms such as Alameda Research and Blockchain Capital.
“We work with institutions and what we see is that institutions have very long-term horizons; they don’t stop these partnerships,” said Mónica.
In another major development, Anchorage will become the preferred custodian for buzzy new layer one blockchain Aptos.
In a recent interview with CoinDesksaid Mónica, “by partnering with Aptos, we are actually helping to ensure that the next generation of layer 1 blockchains take these right [security] consideration, and that will only stimulate future growth in the industry.”
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