Digital Custodian Anchorage Adds XRP Storage for Institutional Customers

Anchorage, a digital asset custodian targeting institutional clients, has added support for XRP, offering services for all of the top-3 cryptocurrencies.

Apr 2, 2020 at 1:34 p.m. UTC
Updated Sep 14, 2021 at 8:24 a.m. UTC

Digital custody provider Anchorage has added custodial support for XRP, the company announced in a Thursday blog post.

XRP (XRP) is the third-largest cryptocurrency by market capitalization, and is best known as the crypto used by Ripple for cross-border payments. Prior to Thursday, XRP was the only top-three cryptocurrency not supported by Anchorage, which specifically caters to institutional investors.

Anchorage began supporting XRP on its website formally on Wednesday, its website showed.

"As the third-largest digital asset by market cap, XRP appeals to a number of our institutional clients, which include VC funds, family offices, hedge funds, and other large-scale crypto investors,” Diogo Monica, president of Anchorage said. 

In a press release, Anchorage said that “an ecosystem of institutions” are already holding XRP.

XRP joins 18 other digital assets already supported by Anchorage. Monica said that Anchorage is willing to add custodial service for any digital asset that meets the bar. 

“Anchorage has always aimed to support every asset that meets our standards of quality and security, and XRP does both. Particularly during these uncertain times, we’re proud to be growing our list of supported assets and improving operational efficiency for our institutional clients,” he said.


Read more about
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
First Mover Asia: Terra's Difficult Post-Collapse Path: VCs Backing Away, Regulators Jumping on Stablecoins

Some investors see salvageable pieces in the rubble while others are bemoaning their involvement and want to forget the protocol ever existed; bitcoin edges up in weekend trading.

Some investors see salvageable pieces in the rubble while others are bemoaning their involvement and want to forget the protocol ever existed; bitcoin edges up in weekend trading.

CoinDesk - Unknown
2
CoinDesk - Unknown
China Can’t Seem to Stop Bitcoin Mining

Reported hashrate fell to zero for two months in China last year, but it has since returned rather abruptly.

Reported hashrate fell to zero for two months in China last year, but it has since returned rather abruptly.

CoinDesk - Unknown
3
CoinDesk - Unknown
Could Local Digital Currencies Improve Communities?

That's the argument of the president of the RadicalxChange Foundation.

That's the argument of the president of the RadicalxChange Foundation.

CoinDesk - Unknown
4
CoinDesk - Unknown
After the Terra Meltdown: What's Next for Stablecoins?

The largest token collapse in crypto history. So let Luna die.

The largest token collapse in crypto history. So let Luna die.

CoinDesk - Unknown