Catenaa, Thursday, December 26, 2024 – Anchorage Digital announced last Monday that it has been granted a BitLicense by the New York State Department of Financial Services (NYDFS) for its subsidiary, Anchorage Digital NY, LLC.
The approval allows the crypto custodian to extend its services to institutions in New York, one of the most regulated markets in the US, with full capabilities expected by early 2025.
The BitLicense, first introduced in 2015, is the first legal framework in the US designed specifically for crypto businesses.
It will enable Anchorage Digital to offer its agency trading desk to New York-based institutions, providing deep liquidity and cost-effective trading solutions through a regulated entity.
This move is expected to increase Anchorage Digital’s partnerships with a broader range of institutions, including registered investment advisors (RIAs) and large asset managers.
The approval comes as institutional interest in digital assets continues to grow.
Anchorage Digital has been making strategic moves to solidify its position, including becoming the first US federally chartered bank to support liquid staking for Liquid Collective’s Liquid Staked ETH (LsETH).
The firm has also partnered with PayPal and other firms to launch new stablecoin networks and programs.
This development signals Anchorage’s commitment to expanding its services to meet the growing demand for secure, regulated crypto solutions in the institutional space.
