Institutional crypto platform Anchorage Digital is expanding its presence in Asia after announcing five key partnerships.
Institutional crypto platform Anchorage Digital announced that it has partnered with five new Asia-based institutions. This latest development comes as the company makes a push into Asia.
Anchorage Digital has partnered with cryptocurrency exchange Bitkub, asset management firm Dream Trade, blockchain investment firm FBG Capital, venture firm IOSG Ventures and digital assets financial services provider Antalpha,
This isn’t the first time Anchorage Digital is partnering with crypto firms in Asia. The company had previously partnered with internet infrastructure provider GMO-Z.com Trust Company in the region.
Anchorage Digital has been around since 2017 and was the first crypto bank to receive a federal charter in the United States.
According to the company, many clients in Asia chose Anchorage because of its strong regulatory status in the United States.
Will Chiu, Antalpha’s chief investment officer, in a statement, commented that;
“We appreciate Anchorage’s attention to regulatory compliance and vetting of the digital assets they support. Through their combination of crypto-native fluency and understanding of traditional finance needs, they continue to support us in expanding the adoption of digital assets.”
This latest development doesn’t come as a surprise, as institutional investors have been doubling down on the crypto space over the past few years.
Anchorage provides financial institutions with integrated financial services and infrastructure solutions, including custody, staking and trading services.
Earlier this year, Anchorage Digital received a consent order from the Office of the Comptroller of the Currency (OCC) after failing to implement the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) requirements
The cryptocurrency startup recently raised $350 million in a Series D funding round. The funding round was led by investment firm KKR and joined by a host of other investors, including Goldman Sachs, Thoma Bravo, Alameda Research and Blockchain Capital.
Diogo Mónica, Anchorage’s co-founder and president commented that;
“We work with institutions and what we see is that institutions have very long-term horizons, they are not stopping these partnerships.”
Anchorage recently announced its partnership with Aptos, a layer-1 blockchain. Regarding this partnership, Mónica said;
“By partnering with Aptos, we’re actually helping make sure that the next generation of layer 1 blockchains are taking these proper [security] considerations, and that will only spur future growth in the industry,”
Institutional investors have been gaining exposure to the major cryptocurrencies, including Bitcoin and Ethereum, in recent years.