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Anchorage Becomes First Federally Chartered Digital Bank

Crypto Custodian Anchorage just received a national bank charter from Office of the Comptroller of the Currency (OCC). Anchorage now has the designation of a “Qualified Custodian” under the Securities and Exchange Commission’s (SEC) requirements.

The OCC released a statement saying, “The OCC granted a national trust bank charter to Anchorage after thorough review of the company and its current operations.  As an enforceable condition of approval, the company entered into an operating agreement which sets forth, among other things, capital and liquidity requirements and the OCC’s risk management expectations,” 

With a banking charter, the Anchorage Digital Bank National Association can provide sub-custody services — like holding assets for a main custodian — for any financial institution, according to Anchorage. 

Other players are also looking to obtain banking charters in the near future. BitPay and Paxos both applied for federal charters from the OCC in December.

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