Anchorage Digital secures BitLicense in New York, expanding crypto services to large institutions

Crypto custodian Anchorage Digital announced Monday that The New York State Department of Financial Services (NYDFS) has granted a BitLicense to its subsidiary, Anchorage Digital NY, LLC. This approval positions Anchorage Digital to offer institutions in New York State secure and efficient crypto trading, with full capabilities expected by early 2025.

The BitLicense allows Anchorage Digital to extend its services to one of the most highly regulated and influential markets in the U.S. Institutions in New York can now access Anchorage’s agency trading desk, which provides deep liquidity and cost-effective trading through a regulated entity. A BitLicense was first introduced in 2015 and was the first legal structure in the U.S. specifically for crypto businesses.

“Receiving a BitLicense is a major step forward for Anchorage Digital and the digital asset industry as a whole,” said Nathan McCauley, CEO and Co-Founder of Anchorage Digital. “Bringing regulated and efficient crypto trading to clients based in New York marks the latest in our journey to build the best regulatory and technical stack for institutions in crypto."

The regulatory approval enables Anchorage Digital to partner with a broader range of institutions, including RIAs and large asset managers. This comes as institutional interest in digital assets continues to grow, with many seeking reliable platforms that combine security, liquidity, and regulatory compliance.

This announcement follows a series of strategic moves by Anchorage Digital to strengthen its position in the market. Recently, the firm became the first U.S. federally chartered bank to support liquid staking for Liquid Collective’s Liquid Staked ETH (LsETH). Anchorage Digital also partnered with several firms to release a new stablecoin network and with PayPal on a stablecoin rewards program.