RT @ElectricCoinCo: From their release: "Since our founding, we’ve been credited numerous times with blurring the lines between crypto and traditional finance. Today, we’re happy to see those lines begin to be erased."
Anchorage is pleased to announce that the Office of the Comptroller of the Currency (OCC) has provided conditional approval to our application for a national trust charter, which makes Anchorage Digital Bank National Association, the first federally chartered digital asset bank in history. This is a major milestone, not only for us as an organization, but also for the crypto industry and the wider financial world. Crypto deserves a bank, and we are immensely proud of being approved as the one to set the standard.
tldr; Anchorage Digital Bank has received conditional approval to become the first federally chartered digital asset bank in the United States. The bank will offer sub-custody services for traditional financial institutions that wish to give clients access to digital assets. Anchorage Digital Bank is the first entity to have both the tech and the regulatory clarity that serious institutional participation in crypto demands.
This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.