Anchorage Digital Appoints Aaron Schnarch, Former CEO of Coinbase Custody, as COO

Anchorage Digital says that it made a strong debut to 2024: they launched Porto, their new self-custody wallet for institutions, exceeded an all-time-high of $50 billion in assets under custody, announced partnerships with wealth management platforms, and expanded custody to support tokenized money market funds.

Now, Anchorage Digital is continuing its momentum by announcing the appointment of their first company-wide Chief Operating Officer (COO), Aaron Schnarch.

Drawing from extensive experience in both traditional finance and crypto, Aaron is said to be uniquely qualified “to drive forward the vision set forth by co-founders Nathan McCauley and Diogo Mónica.”

In his new role as COO, Aaron will oversee all business lines “including custody, trading, staking, settlement, and self-custody, as well as sales, marketing, and business development.”

Prior to joining Anchorage Digital, Aaron served “as the CEO of Coinbase Custody and VP of Product Management at Coinbase Global.”

In these roles, he was “instrumental in growing and globalizing product inflows, scaling institutional staking, building an institutional-grade web3 wallet, and supporting infrastructure for its Bitcoin ETF products.”

His experience in crypto was preceded “by over a decade of leadership in finance, holding senior roles at Broadridge Financial Solutions (NYSE: BR), where he was a founding member of the Blockchain Steering Committee, and at SunGard (now part of FIS).”

Nathan McCauley, Co-Founder and CEO of Anchorage Digital said:

“We are thrilled to welcome Aaron to Anchorage Digital. His deep expertise in both traditional finance and the crypto industry, combined with his proven track record of driving innovation and growth, make him the perfect fit for this newly created COO position. The team and I are excited to bring Aaron on to accelerate our mission of revolutionizing the financial landscape and unlocking the vast potential of digital assets for institutions worldwide. Together, we will cement Anchorage Digital’s position as the categorical leader in institutional crypto.”

Aaron Schnarch, Chief Operating Officer at Anchorage Digital said:

“The next growth phase of the digital asset industry will be driven by institutional adoption. Anchorage Digital provides clients with unparalleled regulatory clarity, and has built a distinct product, engineered from the ground up for institutions. The sophisticated security architecture, support for massive scale, and delightful user experience, make Anchorage Digital the clear choice in this industry. I am excited to grow the global digital asset ecosystem partnering with the passionate Anchorage Digital team.”

As covered, Anchorage Digital is a crypto platform “that enables institutions to participate in digital assets through custody, staking, trading, governance, settlement, and the industry’s leading security infrastructure.”

Home to Anchorage Digital Bank N.A., “the only federally chartered crypto bank in the U.S., Anchorage Digital also serves institutions through Anchorage Digital Singapore, Porto by Anchorage Digital, and other offerings.”

The company is funded by institutions “including Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa, with its Series D valuation over $3 billion.”

Founded in 2017 in San Francisco, California, Anchorage Digital has “offices in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota.”

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