Anchorage Digital Unveils Porto, a Self-Custody Wallet Tailored for Institutions

Integrated cryptocurrency platform Anchorage Digital The launch of Porto marks Anchorage Digital's step into the realm of self-custody wallets for institutions. This innovative wallet is made available by Anchorage Digital, allowing organizations to take control of their assets independently. It utilizes advanced technology similar to that of Anchorage Digital's banking services, featuring robust security measures such as biometric authentication. asset recovery .

Unlike traditional banking services, Porto embraces a self-custodial model. This approach offers institutions more autonomy in asset management, enabling interactions with decentralized applications while also allowing for various investment strategies. Some asset managers might choose a cautious route by holding cryptocurrencies, while others may opt for a proactive approach, engaging in restaking and yield farming to maximize returns.

Porto arrives with extensive compatibility, supporting over 200 cryptocurrencies, including significant offerings like Bitcoin and Ethereum, as well as various decentralized applications. The transition of technology from the Anchorage Bank service to Porto is designed to improve user experience. The wallet is available on both iOS devices and desktop platforms. Bitcoin , Ethereum , Aptos, and Sui Establishing Itself as a Leading Custodian for Digital Assets in the Institutional Sector

Anchorage Digital has built a reputation for providing top-tier cryptocurrency custody services to institutions, including venture capital firms and sovereign wealth funds, through its banking arm. The firm boasts the unique distinction of being the only digital asset company accredited with a national trust charter by the United States Office of the Comptroller of the Currency.

Founded in 2017, Anchorage Digital has quickly ascended to become one of the largest digital asset custodians in the industry, focusing on safeguarding major cryptocurrencies like Bitcoin and Ethereum for institutional clients. In 2021, it notably raised $350 million in a Series D funding round, backed by prominent investors including Blockchain Capital, KKR, and Goldman Sachs.

While custodians like BitGo and others operate under state-chartered trusts regulated by the New York Department of Financial Services, Anchorage Digital's national charter sets it apart. This distinction is particularly important as the Securities and Exchange Commission (SEC) continues to deliberate on which firms will be designated as 'qualified custodians.' a16z With the introduction of Porto, Anchorage Digital reaffirms its status as a premier financial institution for the digital age, providing a secure and effective solution for institutions to manage their cryptocurrency assets amidst the dynamic landscape of digital currencies.

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Alisa, a passionate journalist at Cryptocurrencylistings, specializes in cryptocurrency, zero-knowledge proofs, investments, and the broad spectrum of Web3. She possesses a keen insight into emerging trends and technologies, providing in-depth coverage that educates and captivates readers in the fast-paced world of digital finance.