In collaboration with five cryptocurrency exchanges, Anchorage has launched an exchange custody network.

In collaboration with five cryptocurrency exchanges, Anchorage has launched an exchange custody network.

Anchorage, a crypto custody platform, recently launched a network of exchange custody in collaboration with 5 digital asset exchanges to draw a line between regulated asset vaults and organizational consumer money.

Wintermute, Strix Leviathan, Blockchain.com, CoinList, and Binance.US have all collaborated with the custodian in the past, according to a public statement. According to Anchorage, this allows businesses to access a wide range of trading pairs directly. As a result of the custody network's formation, companies such as Registered Investment Advisors can fulfill their responsibilities to their customers in a secure environment by storing assets via a custodian, throughout the lifecycle of a deal.

In addition, consumers can rest easy knowing that their assets are protected from the dangers of hot wallets, which can be hacked and lose their value over time. According to Diogo Mónica, president and co-founder of Anchorage, this will allow the industry to progress. While hodling is still a part of the cryptocurrency ecosystem, it has evolved in ways that make it easier for institutions and investors who want to participate to do so in a way that's both frictionless and secure.

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Anchorage Digital's CEO, Nathan McCauley, stressed the importance of having a varied set of custodians and exchanges, akin to traditional financial arrangements. He believes that if the bitcoin business wants to gain more trust from corporate clients, it should follow the same playbook as traditional finance.

It was several months after the OCC's announcement that it intends to take action against Anchorage over possible violations of anti-money laundering requirements that the network for exchange custody was put into place. At the time, the custodial facility claimed that it was working to enhance the zones that the OCC was focusing on.

Meanwhile, Anchorage raised up to $350 million in a capital round led by KKR in December of the previous year (a prominent name in investment platforms). The company's valuation has increased by roughly $3 billion as a result of the occurrence. This is the first time the KKR has attempted to invest in cryptocurrency.

CHECK OUT: https://www.mlmlegit.com/2022/06/supreme-capital-fraud-or-legit.html


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