Anchorage Digital is reportedly expanding institutional access to the Mantle ecosystem by introducing custody support for MNT on Ethereum. MNT is the native token of Mantle, which is an Ethereum Layer 2 that intends to bridge decentralized and traditional finance. Institutions are now able to custody MNT on Ethereum via Anchorage Digital’s custody platform or choose to manage it on their own using Porto, its institutional-grade self-custody wallet.
Mantle Network is enabled by zero-knowledge (ZK) proofs to deliver fast, privacy-preserving transactions and settlement across Ethereum and Mantle.
The network supports stablecoin and asset transfers, including those being made with ETH, MNT as well as wrapped BTC.
Anchorage Digital’s custody support for MNT on Ethereum reportedly aims to reinforce its commitment to building resilient infrastructure for institutions to access various L2 ecosystems.
Nathan McCauley, co-founder and CEO of Anchorage Digital, said that they are trying to make it more secure and streamlined for institutions to engage with networks such as Mantle as the ecosystem for institutional DeFi matures.
Emily Bao, Key Advisor of Mantle, said that Anchorage Digital brings the regulatory clarity as well as the infrastructure that global institutions need. Their custody support helps “extend Mantle’s vision of connecting DeFi and traditional finance through a … Layer 2 built for institutional use.”
As home to the federally chartered crypto bank in the United States, Anchorage Digital remains committed to “bridging the gap between institutions and the next gen of decentralized networks.”
As covered, Anchorage Digital is a crypto platform that enables institutions to participate in digital assets via “trading, staking, custody, governance, settlement, stablecoin issuance, and the industry’s security infrastructure.”
Home to Anchorage Digital Bank N.A., the federally chartered crypto bank in the U.S., Anchorage Digital serves institutions via “Anchorage Digital Singapore, which is licensed by the Monetary Authority of Singapore; Anchorage Digital NY, which holds a BitLicense from the New York Department of Financial Services; and self-custody wallet Porto by Anchorage Digital.”
The firm is reportedly funded by institutions such as the following: Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa, with its Series D valuation of more than $3 billion.
Established back in 2017 in San Francisco, California, Anchorage Digital has been maintaining business office locations that are based in in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota.