2024: A Defining Year for Crypto

From spot ETF approvals to market momentum, 2024 was a defining year for crypto. As the ETFs unlocked tens of billions in latent demand, the ecosystem continued to mature—driven by better market structure, tokenization of real-world assets, and regulatory progress around the world. 

At Anchorage Digital, we were proud to play a part in the maturation of the crypto market over the past year. In 2024, we continued to build toward a world where crypto can be part of every portfolio by partnering with top institutions, expanding our offerings, and calling for clear rules of the road in Washington. This year, we were proud to: 

• Partner with crypto innovators to strengthen the ecosystem. In response to deepening institutional participation, Anchorage Digital introduced new solutions for crypto innovators. This year, we launched our self-custody wallet for institutions, Porto by Anchorage Digital, setting a new standard in security and safety. We also introduced Atlas, the only crypto settlement network from a federally chartered bank, to streamline capital efficiency for buy- and sell-side institutions. Over the past year, we continued to expand support for a host of leading protocols—including Arbitrum, Aptos, Babylon, DYDX, EigenLayer, Liquid Collective, Solana, Stacks, ZKsync, and more.   

• Lead the path forward for crypto-TradFi integration. As home to the only federally chartered digital asset bank, Anchorage Digital is the partner of choice for bridging the worlds of crypto and traditional finance. By partnering with 21Shares to provide custody for their US spot crypto ETFs, we are proud to support the maturation of the crypto ETF market. This year, we also provided Bitcoin custody for the first-ever Bitcoin depositary receipts, bringing market standards from traditional finance into the crypto ecosystem. 

• Break down barriers between fiat and crypto. Our work on stablecoin adoption continues to bring new efficiency to crypto innovators. This year, we launched our stablecoin rewards program, enabling institutions to earn competitive rewards on holdings of select stablecoins—starting with PayPal USD. We also helped shape an alliance of leaders in digital assets and fintech as an initial partner in the Global Dollar Network to advance adoption of safe and trusted stablecoins including USDG, a new US dollar-denominated stablecoin. Finally, Anchorage Digital Bank N.A. started accepting USD deposits and providing custody for fiat, streamlining access to both fiat and crypto through the same, trusted qualified custodian.  

• Advance real-world asset tokenization. The rise of tokenization was one of the defining trends for 2024, bringing on-chain efficiency and liquidity to billions of dollars in real-world assets. In response to growing institutional demand, we partnered with crypto-native asset managers like Arca Labs and Superstate to provide custody for tokenized treasuries. 

• Continue to cross regulatory milestones. 2024 marked significant progress in our commitment to building the best regulatory stack for institutions in crypto. This year, Anchorage Digital Singapore received approval as a Major Payments Institution from the Monetary Authority of Singapore. Global institutions can now access custody, staking, trading, and settlement—including fiat on and off ramps—from our Singapore entity. In the US, we were proud to receive a BitLicense from the New York State Department of Financial Services, allowing us to bring regulated and cost-effective crypto trading to clients based in New York. On the federal level, our CEO Nathan McCauley also testified in front of the House Financial Services Committee, where he called for regulatory clarity and reflected on our unique experience working with US and global regulators. 

• Position a world-class team for success. With greater institutional adoption driving growth across the company, we continued to build our senior leadership and board. Earlier this year, we created a new Executive Chairman of the Board role for our Co-Founder Diogo Mónica to support our next phase of growth. SEC veteran TuongVy Le also joined Anchorage Digital as General Counsel, marking the latest in our commitment to advancing legal and regulatory compliance in crypto. Finally, we welcomed former Goldman Sachs banking leader Connie Shoemaker to the Anchorage Digital Bank Board of Directors. 

Pushing Forward 

The past year has been nothing less than a reset for institutional crypto. Between market and regulatory tailwinds, the ecosystem as a whole took a significant step forward—and consumers and institutions are better for it.  

Building on the progress of 2024, the year ahead will see the expansion of both the depth and breadth of institutional adoption. More traditional institutions—including asset managers, hedge funds, and sovereign wealth funds—will enter the ecosystem; crypto innovators will unlock new ways to participate in the asset class. 

Anchorage Digital was built precisely for this moment. 

In 2025, we will continue to execute on our founding vision of safe, secure, and regulated access to crypto. In partnership with crypto-native and traditional institutions, we are proud to work toward a world where every business is a crypto business.    

Interested in accessing digital assets with Anchorage Digital? Please get in touch.