Crypto Bank Anchorage Digital To Make Entry into Asia

blockchain.news:

Anchorage Digital is making 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 assets financial services provider Antalpha.

The company has previously partnered with internet infrastructure provider GMO-z.com Trust Company in Asia.

Anchorage has a record of becoming the first crypto bank to receive a federal charter in the US after its establishment in 2017. Diogo Mónica — Anchorage’s co-founder and president — told The Block that this is the highest order charter that banks can get in the US.

He added that obtaining a charter isn't all sunshine and paradise. Instead, it is also a burden as it requires a level of transparency and maturity to meet the charter’s requirements.

The company said several Asian clients have selected Anchorage because of its strong regulatory status in the US.

«We appreciate Anchorage’s attention to regulatory compliance and vetting of the digital assets they support,» said Will Chiu, Antalpha's chief investment officer, in a statement. 

«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,» he added.

The company's business model involves providing institutions with integrated financial services and infrastructure solutions. They could include solutions such as custody, staking and trading services.

Recently, the startup successfully raised $350 million in a Series D funding round led by investment firm KKR. Other participants included traditional players such as Goldman