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Anchorage Digital launches interface to connect businesses to crypto universe

Anchorage Digital launches interface to connect businesses to crypto universe
Forbes Portugal · 09 Nov 2022
The unicorn with national DNA Anchorage Digital, which created the first federally approved cryptocurrency bank in the US, launches a Programming Interface to connect businesses to the crypto world.

Anchorage Digital, the crypto unicorn with national DNA responsible for creating the first federally approved cryptocurrency bank in the US, launched "Build with Anchorage", an API (Application Programming Interface) aimed at promoting and connecting businesses securely to the crypto world.

Expand crypto services outside the industry itself. That is the main goal of "Build with Anchorage", an infrastructure created by the crypto unicorn with Portuguese DNA, which aims to facilitate the management of crypto payments, financial products and market shares.

The technology, which also features skilled labour from Anchorage's team of engineers in Portugal, comes with the seal of quality and additional security assurance, as it is already being used in the first approved cryptocurrency bank in the United States of America.

Anchorage reveals that the API has been being tested in recent months with a large set of partners in order to demonstrate the potential of the technology.

"Five years ago, Anchorage was established due to the high demand for a secure cryptocurrency custody service from institutional clients. Security is in our DNA and we have built that layer into each of the examples we are announcing today. Today, financial services institutions not only want to store their own records of crypto movements with us, they also want to offer such products to their clients or use them in innovative ways. 'Build With Anchorage' enables them to access this economy. They see what we see: every business will be a crypto business," explains Diogo Mónica, co-founder and president of Anchorage Digital.

"'Build with Anchorage' will allow to power and develop products and services from institutions, through a combination of Anchorage's flexible APIs - to which partners can connect, through programming. The technology will enable so-called trading, settlement or staking, as well as custody APIs and access to a dedicated team consisting of industry leaders, engineers and implementation strategists," Anchorage explains.

The Portuguese unicorn's officials also stress that, with this technology, Anchorage "fully incorporates every part of the crypto product lifecycle, from idea to implementation, to meet clients' objectives".

Cryptocurrency payment platforms

Fintechs, payment companies or banking sectors have been selecting Anchorage to bring, in various ways, crypto payments to their existing infrastructures. This is the case of AngelList, Series Financia or TAPP Engine Digital, which have chosen the fintech to automate and integrate crypto services into their platforms.

"Anchorage's infrastructure helps us implement USDC along with fiat currencies as an option for early stage investors on the platform - and that's just the beginning for use cases on our platform," says Avlok Kohli, CEO of AngelList.

For Brexton Pham, CEO of Series Financial, the unicorn crypto technology allows "as a Qualified Custodian, to offer clients compliant and regulated custody solutions integrated directly into their banking."

Financial products

Banks and financial service providers are also among Anchorage's clients, as they need crypto collateral management to provide lending services to private clients.

For Moon Mortgage, Anchorage's API offers a lending service, where customers can use Bitcoin as collateral to secure a mortgage on real property.

"Supporting the purchase of real estate through Bitcoin-backed mortgage lending is very important for digital assets. Anchorage was the only crypto-native company with the regulatory framework and robust funding program to make this powerful new capability possible, and we are excited to be part of this partnership," notes Aaron Nevin, founder and CEO of Moon Mortgage.

Explains Anchorage: "Investors registered with the SEC [the US Securities and Exchange Commission] are subject to a number of fiduciary responsibilities and need custody and trading systems to effectively participate in digital assets. Anchorage therefore intends to continue helping registered investment advisers - RIAs - participate in the market with various partners such as MAYA, Oath Digital or Plutus21 Capital," he stresses.