Anchorage Digital, a leading crypto platform for institutions, has achieved a major milestone with the approval of a BitLicense from the New York State Department of Financial Services (NYDFS) for its subsidiary, Anchorage Digital NY, LLC.
Anchorage Digital Strives To Extend Crypto Services
A BitLicense is an essential license issued by the New York State Department of Financial Services (NYSDFS) to operate virtual currency-related services. It was the first legal framework in the United States for cryptocurrency businesses.
The move allows institutions in New York State to access secure and regulated crypto trading services with enhanced efficiency, setting the stage for full capabilities by early 2025.
The approval positions Anchorage Digital as a regulatory trailblazer in the digital asset industry. Its agency trading desk is now among the few entities with NYDFS authorization. This offers clients in New York access to deep liquidity and cost-efficient trading within a regulated framework.
Nathan McCauley, CEO and Co-Founder of Anchorage Digital stated, “Receiving a BitLicense is a major step forward for Anchorage Digital and the digital asset industry as a whole. 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.
“We look forward to continued collaboration with regulators including NYDFS to meet growing client demand for secure, regulated digital asset solutions,” he added further.
According to the announcement, Anchorage Digital’s services strive to extend beyond trading, offering custody and settlement services via Anchorage Digital Bank N.A., a federally chartered crypto bank.
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