Crypto: San Francisco Firm Sees 80% Jump in Custody Assets
The crypto custody arena is expanding day by day. The collapse and bankruptcies of several companies last year instigated existing players to fill in the boots of crypto middlemen. Several firms from the traditional finance space, including the Deutsche Bank, BNY Melon, Fidelity, BNP Paribas, Standard Chartered’s Zodia, Nasdaq, and Ripple, have made notable strides on this front over the past few months. Well, Anchorage Digital is another such firm. Assets under custody on this platform registered a swift 80% incline during the first quarter of 2023. Diogo Monica, the Co-Founder and President of the San Francisco -based firm recently asserted in an interview, “We’re talking about billions of dollars of deposits flowing into Anchorage.” The firm’s core business is to provide custodial services to institutions. Alongside, its umbrella also covered a few bases related to trading, lending, and DeFi. Anchorage Digital says business soare...