Thai bank's venture arm invests in institutional crypto custodian Anchorage
SCB 10X, the venture arm of Thailand's oldest bank, is participating in an $80 million Series C fundraising round for institutional crypto custodian and digital asset platform Anchorage. Just last month, SCB 10X — the venture arm of Siam Commercial Bank — had announced its new $50 million fund dedicated to investments in global blockchain, decentralized finance and digital asset startups. The banking institution is Thailand's oldest bank, established by royal charter back in 1907, and its latest forays into blockchain via SCB 10X are already underway.According to a report on March 5, SCB....
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The U.S. Office of the Comptroller of the Currency (OCC) has granted conditional approval to crypto custodian Anchorage to launch the first federally chartered digital asset bank in the country. In a statement on Jan. 13, 2021, the OCC said the company received the national trust banking charter, which allows it to create Anchorage Digital Bank, following a thorough review of its operations. With the approval, Anchorage will now be expected to comply with the capital and liquidity requirements of the OCC and certain risk management procedures. The firm signed an agreement with the banking....
If its application is approved, Anchorage would be the first crypto company to get a national bank charter.
Institutional investors can get USD on credit without liquidating their ETH. Crypto custody bank Anchorage Digital is expanding its services into crypto-backed loans for institutional investors.Clients at Anchorage can now access a line of USD credit backed by Ethereum through its partnership with U.S. commercial bank BankProv.Anchorage Financing will introduce a simple way for investors to put their Ethereum holdings to work, enabling them to access USD to meet their needs without liquidating their holdings according to the announcement. The crypto custodian also offers staking services....
The raise marks the first time investment giant KKR directly invests in a cryptocurrency firm. Major cryptocurrency custody bank Anchorage Digital has closed a fresh funding round, bringing its valuation to over $3 billion.Anchorage Digital announced on Wednesday that it had raised $350 million in a Series D funding round led by equity investment giant KKR.According to the announcement, this is the first time for KKR to directly invest in equity in a company in the crypto industry. The company invested through its Next Generation Technology Growth Fund II, which is dedicated to developing....
Protego joins Anchorage as the first string of digital asset firms to get national trust bank licensing. The Office of the Comptroller of the Currency has granted another crypto firm a national charter.Per an announcement shared with Cointelegraph today, Washington-based institutional crypto custodian Protego is the second crypto-native firm to get national licensing from the OCC. The new charter is conditional, and Protego is authorized as a national trust bank rather than a traditional bank, meaning that it will not handle deposits. Interestingly, Protego is a relatively new firm and is....