Anchorage Digital—the crypto platform for institutions—is pleased to announce that the New York State Department of Financial Services (NYDFS) has approved their subsidiary, Anchorage Digital NY, LLC, for a BitLicense.
The addition of BitLicense-regulated trading means Anchorage Digital can offer institutions in New York State secure and cost-efficient trading with a new “level of efficiency with full capabilities expected in early 2025.”
Nathan McCauley, CEO and Co-Founder of Anchorage Digital said:
“Receiving a BitLicense is a major step forward for Anchorage Digital and the digital asset industry as a whole. 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. We look forward to continued collaboration with regulators including NYDFS to meet growing client demand for secure, regulated digital asset solutions.”
A regulatory pioneer, Anchorage Digital has one of the “only agency trading desks to receive a BitLicense from NYDFS.”
Their agency trading desk enables NY-domiciled clients to take “advantage of deep liquidity and cost effective trading from a regulated entity.”
Now, institutions based in New York can access Anchorage Digital NY’s safe, regulated “crypto trading with competitive pricing.”
BitLicense approval will allow Anchorage Digital to work with more New York-based institutions, including “registered investment advisors (RIAs) and large institutional asset managers.”
The approval means the trusted brand in crypto can offer regulated crypto trading to NY clients, and the ability to “custody and settle trades through a clear-cut qualified custodian in the form of Anchorage Digital Bank N.A.—a combination that provides regulatory certainty across the entire trading lifecycle.”
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 serves institutions “through Anchorage Digital Singapore, Porto by Anchorage Digital, and other offerings.”
The firm is reportedly funded by institutions including the following: Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa, with its Series D valuation over $3 billion.
Established back in 2017 in San Francisco, California, Anchorage Digital has offices in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota.