The us occ anchorage digital us

the us occ anchorage digital us

In 2021, Anchorage Digital Bank received its banking charter from the Office of the Comptroller of the Currency,[5] making it the first federally chartered cryptocurrency bank in the United States.[6] The same year, it was contracted by the United States Department of Justice to be the custodian for all digital assets seized or forfeited in criminal cases.[7][8] It also became the first known United States bank to custody a NFT by facilitating a purchase for Visa.[9]

In December 2021, Anchorage Digital was valued at more than $3 billion and had raised capital from investors such as KKR, Goldman Sachs, GIC (Singaporean sovereign wealth fund), and Wellington Management.[5][10]

Services[edit]

Anchorage Digital is a custodian of digital assets for financial institutions such as banks, venture capital firms, and fintechs, as well as governments.


Today, Anchorage serves many of the largest institutional investors and enterprise brands in the digital asset space.

Anchorage Digital Bank makes it simple and secure for institutions to gain exposure to digital assets as the first federally chartered digital asset bank. With secure custody at its core, Anchorage is the premier partner for institutions and corporations. Anchorage offers financial solutions for today and tomorrow.
To learn more, please visit anchorage.com and on Twitter @Anchorage.

About KKRKKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities.

The us occ anchorage digital usb

Flycoin has taken another step to strengthen its infrastructure and security in safeguarding FLY

POMONA, Calif, July 5, 2022 /PRNewswire/ — FlyCoin, Inc., a cryptocurrency-based travel rewards technology company, is pleased to announce that it will utilize Anchorage Digital to serve as the custodian of a significant portion of its minted cryptocurrency, FLY. Anchorage Digital is a regulated institutional platform and the first crypto company to receive a national bank charter from the Office of the Comptroller of the Currency (OCC).

“Flycoin only selects the most reputable and trusted custodians of cryptocurrency to properly safeguard FLY for us and our partners. We are excited to partner with Anchorage Digital, as currently, they are the only federally regulated custodian of digital assets.


Wyoming, theyshowed interestin launching products that allow individuals to receive their salary in digital currency and much more.

When Anchoragereceivedtheir charter from the OCC today, they hinted at new and innovative digital-currency based financial products being on the horizon as well,saying that

We are currently witnessing the rise of institutional crypto adoption. From large asset managers, to corporate treasuries, to endowments and family offices, institutional interest in digital assets has never been higher. As the space continues to mature and its use cases proliferate, we expect to see increasing demand for a wide range of services — services that exceed the expectations of traditional finance.

More digital currency companies becoming national banks:BothPaxos and BitPay have filed applications with the OCC to become national banksas well.

BSA/AML requirements laid out by the BSA and enforced by the OCC through its charter as a bank, according to the regulator.

“The OCC holds all nationally chartered banks to the same high standards, whether they engage in traditional or novel activities,” said Acting Comptroller of the Currency Michael Hsu in a press release. “When institutions fall short, we will take action and hold them accountable to ensure compliance with federal laws and regulations.”

In its consent order, the OCC found Anchorage Digital had deficiencies in its BSA/AML compliance program, specifically with its customer due diligence procedures and regarding its procedures for monitoring suspicious activity.

Without admitting or denying the OCC’s findings, Anchorage Digital agreed to convene a compliance committee under its board of directors within 15 days of the date of the order.

SAN FRANCISCO, Dec. 15, 2021 /PRNewswire/ — Anchorage Digital (“Anchorage” or the “Company”), the premier digital asset platform for institutions, today announced it has closed a $350 million Series D funding round led by global investment firm KKR. Participants include Goldman Sachs, Alameda Research, Andreessen Horowitz, Apollo credit funds, funds and accounts managed by BlackRock, Blockchain Capital, Delta Blockchain Fund, Elad Gil, GIC, GoldenTree Asset Management, Innovius Capital, Kraken, Lux Capital, PayPal Ventures, Senator Investment Group, Standard Investments, Thoma Bravo, and Wellington Management.
We selected Anchorage for its robust security and controls, and its ability to easily move funds without sacrificing security,” stated Lenny Moon, Flycoin’s CEO. Earlier in June, Flycoin also announced that it had partnered with Bitgo as its first custodian.

Custodians of digital assets, like Anchorage Digital, play an essential role in providing transparency to holders and keeping assets safe while transferred across brokers and exchanges. Anchorage’s model allows institutions to transact with the same security architecture and controls of its custody model.

“We believe both protocols and institutions are better served with custody that’s proven to be resilient, and regulated at the highest level.

This funding round values Anchorage at over $3 billion.

“As more and more institutions look to add crypto services into their offerings, we find ourselves at an inflection point,” said Diogo Mónica, President and Co-Founder of Anchorage Digital, “This funding positions Anchorage Digital to meet the unprecedented institutional demand for this rapidly evolving market. We’re grateful that KKR and this wider group of investors shares our vision to expand regulated institutional access to digital assets.”

The first crypto-native company to receive a banking charter from the Office of the Comptroller (OCC) in January 2021, Anchorage is making it safe and accessible for institutions to participate in the rapidly evolving digital asset space.

Diogo Mónica, President and Co-Founder Anchorage Digital.

Flycoin is leading the charge in moving the travel rewards industry toward a more customer-centric standards. It is growing and expanding an ecosystem of companies across the travel & hospitality industry, by enabling their customers to earn and redeem FLY, a cryptocurrency that provides the end-users greater utility and flexibility than the traditional loyalty point.

Current Flycoin partners include BitGo, Thanks Again, Northern Pacific Airways, Ravn Alaska, and the Anchorage Economic Development Corporation (AEDC).

About Anchorage Digital

Anchorage Digital is a regulated crypto platform that provides institutions with integrated financial services and infrastructure solutions.

Anchorage began as a custodian and has built a robust suite of additional services such as secure trading, financing, staking, and governance.

Anchorage Digital plans to use this latest funding to enhance its infrastructure solutions, specifically for global financial firms and fintech innovators. It will also invest to accelerate and simplify clients’ engagement with the latest in crypto innovation and increase the size of its team to continue to expand product offerings and grow its client base.

KKR is investing in Anchorage through its Next Generation Technology Growth Fund II, a fund dedicated to growth equity investment opportunities in the technology space.

Leave a Reply

Your email address will not be published.