Anchorage Digital Announces Custody for Axelar’s Newly-Launched AXL Token
Anchorage Digital is proud to announce the expansion of our industry-leading institutional crypto custody platform to include AXL, the newly-launched token that will play a central role on the Axelar blockchain, which is expected to be live at the end of September 2022. Axelar is a blockchain delivering secure cross-chain communication that enables dApp users to interact with any asset or application, on any chain, with one click.
“At Anchorage Digital, we’re seeing a growing demand among our institutional clients to expand their crypto portfolios, and they demand early access to new protocols. Axelar is a unique blockchain, and we’re proud to now support that uniquity on our platform––and even more proud to have been prepared to do so from day one.”
—Diogo Mónica, Co-Founder and President, Anchorage Digital
The AXL token is used to provide decentralized security via proof-of-stake in blockchain-to-blockchain communication. As a blockchain itself, Axelar network can execute on-chain logic to provide more seamless interoperability for users. After its latest (Series B) funding round, the network reached a valuation of $1 billion.
“We knew that for a crypto custodian to get on board with AXL before the token has been publicly launched, it would need to have thorough knowledge of security engineering—so we naturally turned to Anchorage Digital, who we knew would be up for the challenge. Security is the core of the Axelar network, so we couldn’t be happier having a trusted, security-minded partner like Anchorage Digital offer AXL to its institutional clients–especially from the token’s public launch.”
—Sergey Gorbunov, Co-Founder and CEO, Axelar
If you’d like to learn more about our offerings at Anchorage Digital—including how to participate in new and promising blockchains like Axelar—please get in touch.
About Axelar
Axelar delivers secure cross-chain communication for Web3. Our infrastructure enables dApp users to interact with any asset or application, on any chain, with one click. Axelar is a blockchain that connects blockchains, enabling universal Web3 interoperability. The network is secured using proof-of-stake consensus, and messages are routed and translated using permissionless protocols.
Axelar has raised capital from top-tier investors, including Dragonfly Capital, Polychain Capital, Coinbase, and Binance. Partners include major proof-of-stake blockchains, such as Avalanche, Cosmos, Ethereum, Polkadot and others. Axelar’s team includes experts in distributed systems/cryptography and MIT/Google/Consensys alumni; the co-founders, Sergey Gorbunov and Georgios Vlachos, were founding team members at Algorand.
About Anchorage Digital
Anchorage Digital is a regulated crypto platform that provides institutions with integrated financial services and infrastructure solutions. As the first federally chartered crypto bank in the US, Anchorage Digital offers institutions an unparalleled combination of secure custody, regulatory compliance, product breadth, and client service. Founded in 2017, Anchorage Digital is valued at over $3 billion with funding from leading institutions including Andreessen Horowitz, GIC—Singapore’s sovereign wealth fund, Goldman Sachs, KKR, and Visa. Headquartered in San Francisco, California, Anchorage Digital is remote-friendly with offices in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota. Learn more at anchorage.com, on Twitter @Anchorage, and on LinkedIn.
Press Contacts:
Anchorage Digital
Axelar
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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