Anchorage Digital sees asset custody demand surge amid crypto volatility
Amid increased scrutiny and tumultuous events in the crypto industry, Anchorage Digital, the San Francisco-based cryptocurrency firm, reports a substantial 80% increase in the assets under its custody in the first quarter of 2023. Anchorage Digital, the San Francisco-based crypto currency firm, reported a substantial up surge in business, spurred by an increased desire for secure asset custody methods amidst crypto volatility and regulatory pressures, as revealed by the firm’s president. The company witnessed an 80% surge in assets under its custody in the first quarter of 2023, a sharp rise from the previous quarter of 2022. As cited by the firm’s president, Diogo Monica, “billions of dollars of deposits” are channeled towards Anchorage, although exact figures have not been disclosed. First digital bank Anchorage Digital made headlines in 2021 by becoming the inaugural federally chartered crypto bank, gaining approval from the Office of the Comptroller...