Anchorage Teams up with Five Cryptocurrency Exchanges to Establish a Custodial Network

Anchorage Digital, a cryptocurrency custody firm, recently announced the formation of an exchange custody network with five digital asset trading platforms to isolate institutional client money from exchanges into regulated asset vaults. The custodian announced that it has worked with Binance.US, CoinList, Blockchain.com, Strix Leviathan, and Wintermute. According to Anchorage, institutions will have direct access to a large selection of trading pairings. Anchorage Custodial Network According to the custody provider, the development of the custody network allows institutions like Registered Investment Advisors to meet their responsibilities to their clients in a secure environment by holding assets through a custodian throughout the life-cycle of a trade. Additionally, knowing that their assets are not held in hot wallets, which are vulnerable to attacks, provides clients with some peace of mind. This, according to Diogo Mónica, co-founder and president of Anchorage, allows the industry to progress beyond “hodl.” He tweeted: Announcing @Anchorage’s new custody exchange network. As the crypto ecosystem has evolved beyond “hodl”–opening new doors of opportunity for investors–institutions deserve to participate as safely and seamlessly as possible. — Diogo Mónica (@diogomonica) June 9, 2022 According to Anchorage Digital CEO Nathan McCauley, exchanges and custodians should be distinct, just as they are for more traditional financ...