The New York State Department of Financial Services has approved Anchorage Digital’s BitLicense application, making it a top cryptocurrency platform for institutional clients.
The license permits Anchorage Digital NY, LLC, a subsidiary of Anchorage Digital, to provide institutions in New York with regulated cryptocurrency trading services. Early 2025 is when full capabilities are anticipated to be operational.
BitLicense
One of the most sought-after licenses in the cryptocurrency sector is BitLicense, which permits businesses to offer digital asset services in New York while adhering to strict regulations.
As Anchorage Digital grows its institutional offerings, this approval represents a major turning point. Anchorage Digital’s CEO and co-founder, Nathan McCauley, referred to the clearance as a “major step forward” for the business and the digital asset sector.
He emphasized Anchorage’s commitment to working with authorities to satisfy the rising need for safe and legal cryptocurrency services.
Large institutional asset managers and registered investment advisors with offices in New York can now use Anchorage Digital’s services as part of its enlarged portfolio.
These clients can access liquidity and place trades in a regulated setting through the company’s agency trading desk.
In order to maintain regulatory clarity and security throughout the trading process, Anchorage Digital additionally provides custody and settlement services through Anchorage Digital Bank N.A.
