Yesterday digital asset custodian Anchorage was awarded a national trust bank charter by the Office of the Comptroller of the Currency (OCC). Just in the nick of time, as crypto-friendly Acting Comptroller Brian Brooks departs today.
Anchorage Trust is a subsidiary of the custody technology company, and it had an existing charter as a non-depository public trust company in South Dakota. The OCC converted this to a national trust bank charter and the firm is now referred to as the Anchorage Digital Bank National Association. The charter carries some conditions, including the parent company committing to provide sufficient liquidity.
The company was founded by Diogo Mónica and Nathan McCauley, who both have backgrounds in security engineering, having worked together at Square and Docker. In 2019 the company raised a total of $57 million, including from Visa. It’s also a member of Diem, formerly referred to as Facebook’s Libra.
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