Crypto custodian Anchorage Digital announced Monday that The New York State Department of Financial Services (NYDFS) has granted a BitLicense to its subsidiary, Anchorage Digital NY, LLC. This approval positions Anchorage Digital to offer institutions in New York State secure and efficient crypto trading, with full capabilities expected by early 2025.

The BitLicense allows Anchorage Digital to extend its services to one of the most highly regulated and influential markets in the U.S. Institutions in New York can now access Anchorage’s agency trading desk, which provides deep liquidity and cost-effective trading through a regulated entity. A BitLicense was first introduced in 2015 and was the first legal structure in the U.S. specifically for crypto businesses.

“Receiving a BitLicense is a major step forward for Anchorage Digital and the digital asset industry as a whole,” said Nathan McCauley, CEO and Co-Founder of Anchorage Digital. “Bringing regulated and efficient crypto trading to clients based in New York marks the latest in our journey to build the best regulatory and technical stack for institutions in crypto."

The regulatory approval enables Anchorage Digital to partner with a broader range of institutions, including RIAs and large asset managers. This comes as institutional interest in digital assets continues to grow, with many seeking reliable platforms that combine security, liquidity, and regulatory compliance.

This announcement follows a series of strategic moves by Anchorage Digital to strengthen its position in the market. Recently, the firm became the first U.S. federally chartered bank to support liquid staking for Liquid Collective’s Liquid Staked ETH (LsETH). Anchorage Digital also partnered with several firms to release a new stablecoin network and with PayPal on a stablecoin rewards program.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。