Anchorage provides a digital asset platform that focuses on secure custody, trading, staking, and governance services for cryptocurrencies. Its services are tailored for institutional clients, including hedge funds and venture capital firms. The platform operates with a strong emphasis on security and flexibility, ensuring that clients can manage their digital assets efficiently. Anchorage generates revenue through custodial fees, trading commissions, and staking services. What sets Anchorage apart from its competitors is its commitment to maximizing execution speed while maintaining industry-standard security, creating a seamless experience for users. The company's goal is to unlock the full value of digital assets for its clients.

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Naval Ravikant

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Crypto & Web3

Financial Services

Anchorage

Anchorage Digital, a leading institutional-grade crypto platform, has launched a reward program for institutional investors holding PYUSD on its platform or in its self-custody wallet Porto, according to an Aug. 22 statement.The company announced that institutions using its services or Porto can now earn “competitive rewards” on their PYUSD holdings. Unlike other reward programs that involve rehypothecation, staking, or lending, Anchorage Digital’s program allows participants to earn rewards while keeping their assets fully accessible and segregated in their accounts for quick deployment.The announcement hinted that while the program currently supports PYUSD, other stablecoins might be included in the future.Anchorage Digital CEO Nathan McCauley stated that the program aligns with crypto innovators’ desire to generate returns on their treasury assets without compromising security or accessibility. He added:“Anchorage Digital looks forward to working with crypto innovators — including protocols, foundations, VCs, and startups — to unlock the next phase of growth by supporting access to our stablecoin rewards program.”PayPal’s General Manager of Blockchain, Crypto, and Digital Currency also commented that the initiative will expand PYUSD’s utility and benefit institutional users.$1 billion milestoneThe partnership comes as PayPal’s PYUSD is approaching a $1 billion market cap, driven by the strong adoption of the stablecoin on the Solana network.PYUSD’s supply surged by around $400 million in the past month, representing a 60% increase. This growth has positioned PYUSD as the fastest-rising stablecoin, reaching $960 million as of press time, according to data from CryptoSlate.PYUSD Supply on Solana and Ethereum (Source: DeFillama)DeFillama data further showed that most PYUSD is on the Solana blockchain, with $590 million on Solana compared to about $366 million on Ethereum.Market observers have linked PYUSD’s success on Solana to the high yields offered by Solana-based DeFi protocols such as Drift. This platform provides users with substantial rewards, offering nearly 20% annual returns for those who deposit the stablecoin.Mentioned in this articleLatest Alpha Market Report

Anchorage Digital Launches Reward Program For Pyusd Holders Amid $1B Milestone

Anchorage Digital has introduced a stablecoin rewards program, allowing holders of the PayPal USD (PYUSD) stablecoin to earn rewards.

Anchorage Digital adds rewards for PayPal USD holders

Institutional crypto custody platform Anchorage Digital has announced the appointment of former Goldman Sachs executive Connie Shoemaker, to its board of directors.

Anchorage Digital Onboards Ex-Goldman Sachs Exec to Board of Directors

Recently, the company partnered Anchorage Digital to launch a loyalty program for holders of the token.

PayPal integrates LayerZero to facilitate PYUSD transfer between Ethereum and Solana

However, it's up against some big, well funded competitors such as Fireblocks, which has raised over $1 billion in funding and Anchorage Digital, where backers invested almost half that.

Dfns crypto wallet firm raises $16m. Clients incl Fidelity, Zodia

In addition to expanding in New York, Anchorage Digital recently introduced support for Ethereum liquid staking, which allows institutions to earn staking rewards without locking up their holdings.

Anchorage Digital secures NYDFS license to offer institutional crypto solutions

Anchorage Digital First Institutional Custodian to Support ZKsync Asset Custody, GovernanceCAYMAN ISLANDS and SAN FRANCISCO, Aug. 15, 2024 /PRNewswire/ -- Today, Anchorage Digital , the leading crypto platform for institutions, and the ZKsync Foundation, announced the availability of digital assets from the ZKsync ecosystem on Anchorage Digital's platform. With the only U.S. federally chartered crypto bank, Anchorage Digital is the first institutional custodian to support ZKsync, whose zero-knowledge technology helps blockchains provide fast, secure and scalable transactions.The new implementation allows institutions to hold the ZK token and to participate in governance from the safety and security of their Anchorage Digital accounts. The ZK token is also now supported by Anchorage Digital's self-custody wallet for institutions, Porto. The ZK token can be custodied with Anchorage Digital Bank N.A

Anchorage Digital Launches Institutional Access To Zksync Ecosystem

The Plume Network has recently announced an exclusive collaboration with Anchorage Digital.

Plume Network Boosts Institutional Token Custody in Collaboration with Anchorage Digital

LAS VEGAS, NV - Gryphon Digital Mining, Inc. (NASDAQ:GRYP), a bitcoin mining firm, has announced a significant restructuring of its debt in collaboration with Anchorage Lending CA, LLC, a subsidiary of Anchorage Digital.

Gryphon Digital Mining restructures debt with Anchorage Digital

Anchorage Digital has secured a BitLicense in New York, enabling the company to serve institutions in the world's financial capital."Secure and cost-efficient trading" is set to be on offer from early next year, it said in an announcement on Monday.Companies have said that acquiring a BitLicense is both time consuming and expensive, with just a handful of firms getting the green light from regulators.New York residents and businesses that wish to buy and sell crypto can only transact with platforms that have a BitLicense. Critics claim this stifles innovation and disproportionately affects startups.Anchorage Digital's CEO and co-founder, Nathan McCauley, said this is "a major step forward" for his company—and vowed to continue cooperating with the New York State Department of Financial Services (NYDFS.)"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," he added.All of this comes amid seemingly insatiable demand for Bitcoin, and exchange-traded funds tracking its spot price, from investment advisors and institutional asset managers.Anchorage Digital says it offers an agency trading desk that's targeted toward this end of the market, meaning NY-based institutions can access "safe, regulated crypto trading with competitive pricing."BitLicenses have opened the door to other products of late.Ripple's RLUSD stablecoin, which aims to challenge the likes of Tether and Circle by offering digital assets pegged on a 1:1 basis with the U.S. dollar, is going live today.RLUSD will be regulated by the NYDFS, in essence meaning that it will now be subject to New York banking laws.Anticipation for this stablecoin's rollout has helped XRP, a token launched by the co-founders of Ripple Labs, accelerate in recent days.It's trading at $2.67 at the time of writing, up 14% over the past 24 hours—building upon a rally that began when Donald Trump was re-elected president.His pro-crypto policies include sweeping changes at the Securities and Exchange Commission, which has been engaged in a long-running legal fight with Ripple Labs.Hopes have also been raised that a more relaxed regulatory atmosphere in the Trump administration could pave the way for ETFs that offer exposure to XRP.Edited by Stacy Elliott.Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more

Anchorage Digital Nabs Bitlicense To Offer Crypto Trading To New York Institutions

Digital asset custody, trading, and staking services

Anchorage

Digital asset custody, trading, and staking services

Anchorage

Digital asset custody, trading, and staking services

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