Key facts
- Anchorage Digital and Binance have launched a new service for institutional crypto trading.
- The service facilitates off-exchange settlement, allowing assets to remain in custody at Anchorage Digital Bank.
- This provides an alternative to holding assets directly on the Binance exchange.
- The initiative aims to improve security and operational efficiency for institutional clients.
Anchorage Digital, a digital asset bank, and Binance, a major cryptocurrency exchange, have introduced a new service designed to facilitate off-exchange settlement for institutional crypto trading. This collaboration allows institutional clients to execute trades on the Binance platform while ensuring their digital assets are held in segregated custody by Anchorage Digital Bank. This approach aims to mitigate counterparty risk associated with holding funds directly on an exchange and enhance the overall security and operational efficiency for large-scale crypto investors.