Anchorage makes push into Asia with five new partnerships

Quick Take

  • Anchorage Digital is expanding its Asia footprint with five new partnerships. 
  • The new partners include Bitkub, Dream Trade, FBG Capital, IOSG Ventures and Antalpha. It had also previously partnered with Trust Company, a JPY-pegged stablecoin issuer. 

Institutional crypto platform Anchorage Digital has partnered with five new Asia-based institutions as it makes a push into the region. 

The partners are cryptocurrency exchange Bitkub, asset management firm Dream Trade, blockchain investment firm FBG Capital, venture firm IOSG Ventures and digital assets financial services provider Antalpha, said Anchorage in a release. 

It had also previously partnered with internet infrastructure provider Trust Company in the region. 

Founded in 2017, Anchorage was the first crypto bank to receive a federal charter in the US, which means it is regulated by the OCC. This is the highest order charter that banks can get in the US, Diogo Mónica, Anchorage’s co-founder and president, told The Block.  

To have a charter creates a very high burden for firms because of the level of transparency and maturity required to meet the charter’s requirements, he added. 

Many clients in Asia have selected Anchorage because of its strong regulatory status in the US, the company said. 

“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.” 

Institutions double down

Anchorage provides institutions with integrated financial services and infrastructure solutions such as custody, staking and trading services.  

The startup most recently raised $350 million in a Series D funding round led by investment firm KKR. Investors included traditional players such as Goldman Sachs and Thoma Bravo as well as crypto native firms such as Alameda Research and Blockchain Capital. 

“We work with institutions and what we see is that institutions have very long-term horizons, they are not stopping these partnerships,” Mónica said. 

Anchorage also recently announced that it will be the preferred custodian for buzzy new layer one blockchain Aptos, which is still currently in testnet stages. Mónica is also an angel investor in Aptos. 

“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,” Mónica told Coindesk in an interview. 

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.