Anchorage Digital has applied to the National Futures Association and the Commodity Futures Trading Commission for a swap dealer license.
A new entity, Anchorage Digital Swap Dealer, LLC, has been created to pursue approval.
In a post, Anchorage said it was pursuing the qualification because of increasing demand for digital asset options. The company said this was the “next step” in the evolution as a full-service, digital asset bank and financial services firm.
Anchorage shared that most of its growth is coming from public companies that now hold Bitcoin and Ethereum, and from asset managers who need options to manage risk.
As a swap dealer, Anchorage can make markets in swaps, including margins and trading. Anchorage noted it is the same qualification that applies to dealers and banks.
Nathan McCauley, CEO and co-founder of Anchorage Digital, says institutions have told them what they want from digital asset derivatives: a counterparty that can underwrite, report, margin, and manage.
“Swap dealer registration will allow us to meet them there. It will bring our options business under the same federal framework as the dealers they already face, and give us the structure to serve more clients, in more ways, as the market matures.”
Anchorage Digital Bank was the first digital bank to gain a federal charter, positioning itself as a leading platform for public and highly regulated firms interested in the digital asset ecosystem.
