There Is Now a Federally Chartered Digital Asset Bank in the U.S.

By The Motley Fool4 days ago


The U.S. Office of the Comptroller of the Currency (OCC) has granted conditional approval to the digital crypto-custody platform Anchorage, creating the first federally chartered digital-asset bank in history.

Specifically, the OCC granted Anchorage a national trust charter, which means assets held by the company do not need to be insured by the Federal Deposit Insurance Corporation.

Anchorage is a start-up backed by Visa that offers custody solutions to institutional crypto traders, as well as real-time trading, and financing that allow users to take out loans or lines of credit in U.S. dollars that are collateralized by digital assets.

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