Anchorage Digital Bank will be providing a custody solution for Arca Labs regarding digital securities or tokenized T-Bills.
Arca launched a digitized US Treasury fund and is the first firm to be registered under the 40 Act to issue tokenized T-bills, which are called “ArCoin.” Settlement is instantaneous, and trading is 24/7.
Arcoin is transferable peer-to-peer using the Ethereum blockchain. The Fund is comprised of a mix of US Treasuries and US dollars, with a current 30-day SEC yield of 5.51%.
Anchorage is the first and only digital asset bank to receive a federal charter issued by the US Comptroller of the Currency.
Jerald David, President at Arca Labs, said the partnership brings them one step closer to offering an end-to-end product for companies seeking to integrate tokenized treasuries into their operations.
“Anchorage Digital Bank and Arca have been early innovators in the digital asset securities space for the past six years. Now that institutions have validated the benefits of blockchain technology, companies are seeking the most secure and seamless digital assets solutions that meet U.S. regulatory standards,” said David.
Nathan McCauley, co-founder and CEO of Anchorage Digital, said they aim to provide best in class custody solutions for digital asset investors.
Late last month, Anchorage announced a global custody solution enabling settlement in dollars and digital assets.