Anchorage Digital Singapore is pleased to be the “first” crypto custodian to announce compliance with Singapore digital asset custody regulation by receiving an exemption in respect to its digital payment token (DPT) custody service from the Monetary Authority of Singapore (MAS).
The exemption as set out by the “Transitional Regulations 2024” positions Anchorage Digital Singapore to operate its custody services within MAS’s regulatory framework.
This milestone represents a significant step forward “for the institutional crypto ecosystem in Asia.”
In January 2022, Anchorage Digital had first launched Anchorage Digital Singapore, serving some of the biggest names “in traditional and decentralized finance with a dedicated local team and 24/7/365 support.”
With the addition of Singapore custody regulation—and Anchorage Digital’s ongoing compliance—they continue to work toward their “founding vision: best meeting client needs via secure and regulated access to digital assets.”
Singapore, long recognized as “a center for global finance and a leader in technology, is playing a key role in creating a clear, consistent regulatory framework around crypto.”
By taking a forward-looking approach to digital assets, MAS is “helping the global business community meet the demands of the digital age.”
As home to the only federally chartered digital asset bank in the US, Anchorage Digital Bank N.A., they know “how critical this type of regulation is to increasing the safety and security of the digital asset ecosystem.”
MAS’s new legislative authority gives their institutional clients “another compliant solution they can confidently use to safeguard assets.”
Nathan McCauley, Co-Founder and CEO of Anchorage Digital said:
“Anchorage Digital Singapore is proud to receive this nod from MAS, allowing us to meet institutional demand for custody with a compliant partner. Building the most advanced regulatory and technical stack has been foundational to our mission since the start. In the weeks and months ahead, we look forward to our continued partnership and collaboration with regulators at MAS.”
Moses Lee, Head of Asia, Anchorage Digital Singapore said:
“MAS and Anchorage Digital share the same commitment to a clear, consistent regulatory regime that enables responsible innovation in the digital asset ecosystem. This exemption represents a significant step forward in our journey to provide safe, secure, and regulated crypto infrastructure for our clients in Singapore and beyond.”
The digital asset class poses new technical and regulatory challenges and opportunities that require “careful collaboration between the industry and regulators worldwide.”
Anchorage Digital is pleased “to partner with regulators at MAS, working together to pave the way for a regulatory framework that protects market participants and enables digital asset innovation. If you would like to learn more about our offerings, please get in touch.”
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.”
