Anchorage is adding five more decentralized finance (DeFi) tokens to its custody vaults, with a focus on decentralized exchanges (DEXs) and automated market makers (AMMs), the beating heart of DeFi.
DeFi investment has grown at an explosive rate with the equivalent of more than $85 billion USD currently locked across Ethereum's DeFi ecosystem at the time of writing. Anchorage pointed out in a blog post that the DeFi universe had grown by more than nine times in value since Anchorage added support for Uniswap, Yearn and others late last year.
“In broad strokes, this is all based on client demand for these tokens,” Anchorage CEO Nathan McCauley said in an interview, adding:
Plus, the fast-moving experimental nature of DeFi means a firm like Anchorage has to do some serious tire-kicking before adding a project, McCauley said.
“In order to support these assets is to run them through a pretty comprehensive due-diligence asset support framework,” McCauley said. “It’s a condition of us having (a) federal bank charter.”
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