Crypto custodian Anchorage gets national trust charter
Digital asset custody services provider Anchorage has secured conditional approval for a national trust charter from the US Office of the Comptroller of the Currency (OCC).
Since launching in 2017, Anchorage – which counts Visa among its investors – has signed up a host of big name institutional investors as clients, helping them to keep their crypto assets safe.
However, it hopes the charter will turbocharge business, saying: “Anchorage Digital Bank is the first entity to have both the tech and the regulatory clarity that serious institutional participation in crypto demands.
“And as a federally chartered bank with fiduciary powers, Anchorage Digital Bank will unequivocally meet the definition of Qualified Custodian, giving institutions a straightforward way to meet their obligations under federal law.”