Anchorage Digital Adds Ethereum-Backed Loans for Institutional Clients
Anchorage Digital is proud to announce institutional Ethereum-backed loans through Anchorage Financing. Institutional clients at Anchorage now have access to a USD line of credit backed by Ethereum through our partnership with forward-thinking commercial bank BankProv. BankProv is the tenth oldest bank in America, operating for over 200 years as The Provident Bank before its modern rebrand in 2020.
Since the beginning, Anchorage has carefully anticipated institutional needs, solving first for secure custody and building a suite of institutional products including financing, brokerage, staking, and governance. Anchorage Financing’s loans help institutions, who are rightfully wary of posting collateral outside the security of Anchorage’s cutting-edge custody, obtain efficient access to capital without compromise.
“We’re pushing our full-service offering for the cryptocurrency community to the next level. We firmly believe in our mission and belief that the crypto market should be afforded the same access and rights to traditional financing tools as any other legal, well-capitalized and compliant business in America. Anchorage’s collateral management tech is world class, making them a trusted partner in the banking industry.”
—Dave Mansfield, CEO of BankProv
For crypto-native funds who have investments in Ethereum and a need for capital, Anchorage Financing brings a simple way to put their Ether to work while staying put, bringing them USD to meet their needs without liquidating their holdings.
At Anchorage, we believe the future of digital asset infrastructure will be forged by cutting edge technology and mutually beneficial partnerships. We’re pleased to partner with BankProv, whose long commitment to connecting enterprise tech and strong record for regulatory compliance aligns with our own.
If you’re interested in pledging Ether or want to learn more about other forms of collateral accepted by Anchorage Financing, please get in touch.
About Anchorage Digital
Anchorage Digital is a crypto platform that enables institutions to participate in digital assets through custody, staking, trading, governance, settlement, and the industry’s leading security infrastructure. Home to Anchorage Digital Bank N.A., the only federally chartered crypto bank in the U.S., Anchorage Digital also serves institutions through Anchorage Digital Singapore, Porto by Anchorage Digital, and other offerings. The company is funded by leading institutions including Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa, with its Series D valuation over $3 billion. Founded in 2017 in San Francisco, California, Anchorage Digital has offices in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota. Learn more at anchorage.com, on X @Anchorage, and on LinkedIn.
This post is intended for informational purposes only. It is not to be construed as and does not constitute an offer to sell or a solicitation of an offer to purchase any securities in Anchor Labs, Inc., or any of its subsidiaries, and should not be relied upon to make any investment decisions. Furthermore, nothing within this announcement is intended to provide tax, legal, or investment advice and its contents should not be construed as a recommendation to buy, sell, or hold any security or digital asset or to engage in any transaction therein.
Anchorage Digital Bank National Association offers fiat custody services through the use of an FDIC-insured, licensed sub-custodian.
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