Custodian Service Anchorage Continues To Add New Partners In Asia
Bitkub, Dream Trade, FBG Capital, GMO-Z.com Trust Company, IOSG Ventures, and Antalpha will all be able to take use of Anchorage’s digital asset custody services.
Anchorage Digital, a cryptocurrency custodian based in the United States, has announced two new institutional partners in Asia.
Anchorage has joined forces with Bitkub, Dream Trade, FBG Capital, GMO-Z.com Trust Company, IOSG Ventures, and Antalpha, the businesses said on Wednesday. The stablecoin will be pegged in Japanese yen.
Diogo Mónica, co-founder and president of Anchorage Digital, claims that Asian financial institutions and rich investors have some of the world’s biggest exposures to cryptocurrency. Although Anchorage has opened a 10-person office in Singapore, the country has recently pulled back on digital assets in response to calls for regulation from the Monetary Authority of Singapore (MAS).
Anchorage’s position as a U.S. federally licenced crypto corporation means that the increased monitoring is actually beneficial, and working with the MAS rather than the patchwork of U.S. watchdogs simplifies things, as Mónica said in an interview.
“Currently about 10% of our business is in the Asia region, but we are projecting it to become closer to 10, to 20, to 25%, in the next 12 to 18 months,” Mónica said. “And I can tell you that working with regulators in Singapore is a breath of fresh air,” comparison with the regulatory patchwork in the U.S.
