Crypto custodian Anchorage nabs national bank charter from OCC

Anchorage Digital Bank National Association (Anchorage), the premier digital asset platform for institutions, announced that it has been granted a national bank charter from the Office of the Comptroller of the Currency (OCC) , which makes it the first federally chartered digital asset bank.

According to Anchorage, with a banking charter, it puts sub-custody services within reach for any traditional financial institution that wishes to give its clients access to digital assets. A federal charter significantly increases Anchorage’s ability to develop and offer the kinds of innovative financial products and services with the safety and soundness that institutional participants require.

"Before now, there have existed fintech companies with the technical sophistication to securely handle digital assets under a piecemeal, state-by-state regulatory structure, and there have existed federally chartered banks with a robust regulatory framework that lack the true technological savvy it takes to operate in the blockchain space at its breakneck pace of innovation," said Nathan McCauley and Diogo Mónica in a joint statement.

Anchorage is the financial platform and infrastructure provider for the digital asset space. Founded in 2017, the company aims to meet the growing need for institutional custody that lets investors safely hold and use crypto. Headquartered in San Francisco, California, with offices in Porto, Portugal and Sioux Falls, South Dakota, the Anchorage team is constantly growing.