Anchorage Digital, a federally regulated bank, has announced a new crypto settlement service called Atlas or Anchorage Digital Trusted Liquidity and Settlement.
Atlas will be able to settle both US dollars and digital assets and includes OTC settlement, OTC margin/collateral management, and off-exchange settlement. Anchorage reports that Atlas is already settling hundreds of millions of dollars in digital assets.
Anchorage claims that many current crypto settlement network models compromise on asset safety because they lack a federal bank charter or employ less secure technologies. Atlas is said to offer the highest level security and a process that eliminates back-office work. The company claims that their security is “unmatched.”
Nathan McCauley, co-founder and CEO of Anchorage Digital, says there is a need in the market for this type of service.
Atlas enables 24/7 fund availability and the flexibility to settle in both dollars and crypto. Settlement is fully on-chain and not reliant on settlement providers’ books, so your assets are never commingled, and don’t leave your on-chain addresses until the moment of settlement.
Atlas notes that participants can access global counterparties, including clients of both Anchorage Digital Bank and Anchorage Digital Singapore.
