As a seasoned analyst with over two decades of experience in the financial industry, I must say that Anchorage Digital’s achievement of a BitLicense is more than just a milestone; it’s a testament to their commitment towards regulatory compliance and institutional-grade service delivery.
The well-known cryptocurrency platform designed for large financial institutions, Anchorage Digital, has been granted permission for the BitLicense by the New York State Department of Financial Services.
The approval empowers Anchorage Digital’s subsidiary, Anchorage Digital NY, LLC, to commence providing regulated cryptocurrency trading services for New York-based institutional clients, with the complete functionality anticipated to become active by early 2025.
The BitLicense
Obtaining the BitLicense makes Anchorage Digital one of the few crypto firms authorized to offer digital asset services in New York, under a strict regulatory system. Getting this approval is a major achievement for Anchorage Digital, signifying their continued growth in providing institutional-level services.
Nathan McCauley, CEO and Co-Founder of Anchorage Digital, referred to the approval as a significant advancement, not only for his company but also for the digital asset sector. He emphasized that Anchorage is committed to working with regulatory bodies to address the increasing need for reliable and compliant cryptocurrency services.
We’re thrilled to share that our subsidiary, Anchorage Digital NY, LLC, has received approval from the New York State Department of Financial Services (@NYDFS) for a BitLicense. This means Anchorage Digital is now authorized to provide regulated trading services in New York State (…).
— Anchorage Digital (@Anchorage) December 16, 2024
In line with its broader service portfolio, Anchorage Digital is now equipped to cater to registered investment advisors in New York and large institutional asset managers. Their agency trading desk facilitates these clients to secure liquidity and carry out trades under a regulated framework.
Alongside its trading services, Anchorage Digital Bank N.A. provides safekeeping and transactional support as well, which enhances regulatory compliance and security during the entire trading procedure.
Read More
- AI16Z PREDICTION. AI16Z cryptocurrency
- POL PREDICTION. POL cryptocurrency
- Hong Kong Treasury says crypto is not a ‘target asset’ for its Exchange Fund
- Crypto ETPs hit $44.5b in YTD inflows amid Bitcoin surge
- Li Haslett Chen to Leave Warner Bros. Discovery Board
- SEN PREDICTION. SEN cryptocurrency
- Kakele Online unleashes its biggest update yet with the Orcs of Walfendah
- The Vampire Diaries Nina Dobrev Reunited With Co-Stars To Recreate Throwback Photo, And I’m Not The Only One Loving It
- Blockaid new dashboard to track Web3 activity and threats
- PYTH PREDICTION. PYTH cryptocurrency
2024-12-16 19:46