- Anchorage Digital’s BitLicense approval enables secure, regulated crypto trading for institutions.
- New York-based institutions gain access to Anchorage’s deep liquidity and trusted services.
- Custody and settlement services expansion ensures regulatory certainty for institutional clients.
The New York State Department of Financial Services (NYDFS) approved Anchorage Digital’s BitLicense. The company’s subsidiary, Anchorage Digital NY, LLC, a New York State approved service, now allows Anchorage Digital to serve institutional clients in New York State.
This enables Anchorage Digital to provide an affordable, secure crypto trading experience to institutional investors. Yet, with the coming of 2025, this service will be completed and open, becoming a new chapter for the company and its clients.
What the BitLicense Approval Means for Anchorage Digital
The BitLicense approval positions Anchorage Digital as a pioneer in the regulated crypto space. With the license, Anchorage can offer New York-based institutions a regulated environment for trading digital assets.
Talking about the approval, Nathan McCauley, the CEO and co-founder of Anchorage Digital stated that the approval was very important for the company and it has always been very important to build the crypto trading, which is a trusted, legal environment.
This includes providing access to a trusted agency trading desk, which offers deep liquidity and cost-effective trading. Furthermore, the approval strengthens Anchorage’s role as a regulated entity, ensuring clients receive both security and efficiency in their crypto transactions.
This milestone is crucial not only for Anchorage but also for the broader crypto industry. By receiving the BitLicense, Anchorage becomes one of the few firms with a fully regulated trading desk.
Thereby, it is now able to serve institutional customers such as large asset managers, RIAs, and large insurance companies. With this, these clients now have a regulated crypto trading space to participate with more confidence and secureness, as their trades are handled by a qualified custodian.
Expanding Institutional Access to Regulated Crypto Services
The BitLicense approval significantly expands Anchorage Digital’s ability to serve New York-based institutions. Besides offering crypto trading services, the company can now offer custody and settlement of trades through Anchorage Digital Bank N.A. This integrated approach ensures regulatory certainty throughout the entire trading lifecycle, a crucial factor for institutional clients.
Additionally, the approval is in line with Anchorage’s focus to ensure that the organization maintains the best regulatory and technical infrastructure for institutions in the crypto space. With the demand for secure and regulated digital asset solutions rising, Anchorage is positioned to fill that demand by continuing to work hand in hand with regulators like the NYDFS.