Anchorage Digital Announces Custody Support for Leading Bitcoin L2 Stacks, Bringing Institutional Engagement to Bitcoin
Anchorage Digital, home to the only federally chartered digital asset bank in the US, has announced its custody support for Stacks, a leading Bitcoin Layer 2 solution. Stacks is the first Bitcoin L2 supported by Anchorage Digital, marking a significant step for institutional involvement in the Bitcoin ecosystem.
Institutions can now securely custody the Stacks token (STX) on the Anchorage Digital platform via Anchorage Digital Bank N.A. The new partnership is helping Bitcoin holders to access capital, while safeguarding their holdings with industry-leading security and regulatory certainty at Anchorage Digital.
“Layer 2s like Stacks are advancing a new vision for the Bitcoin ecosystem—and institutions are taking notice. As the crypto ecosystem continues to expand, we are committed to providing safe, secure, and regulated access to innovative networks like Stacks. We’re pleased to offer access to qualified custody for Stacks via Anchorage Digital Bank N.A.”
— Nathan McCauley, CEO and Co-Founder of Anchorage Digital
“Anchorage Digital and Stacks are deeply aligned on the idea that the new digital asset economy should be both accessible and safe. While we’ve approached making that a reality in dramatically different ways, we have found an intersection that enables institutions to do more with their Bitcoin.”
— Mitchell Cuevas, Executive Director at the Stacks Foundation
Anchorage Digital’s support for Stacks comes at a time of increasing demand for Bitcoin Layer 2 solutions. Layer 2s are critical for enhancing the scalability of the Bitcoin network, enabling faster and more cost-effective transactions while expanding the network's utility. As Bitcoin becomes fully programmable, new use cases will unlock latent capital estimated at around $800 billion.
Market participants, including leading institutions, recognize the opportunity presented by Bitcoin L2s. In Q1 of this year, Bitcoin L2s received $34.5 million, accounting for 19.7% of all L2 investments. This dramatically increased to $94.6 million in Q2, representing 42.4% of L2 investments, representing 174% quarter-over-quarter growth, according to a recent report from Galaxy Digital.
If you are interested in learning more about accessing Stacks from the safety and security of the Anchorage Digital platform, please get in touch.
About Stacks
Stacks is a Bitcoin L2 that enables smart contracts and decentralized applications to use Bitcoin as a secure base layer. The 2024 Nakamoto and sBTC releases will bring faster speeds and transactions backed by 100% Bitcoin finality. Stacks is the current leading Bitcoin L2 by developer traction and market cap and is poised to help unlock Bitcoin and its $500B in passive capital as a fully programmable, productive asset. The Stacks (STX) token, used as gas on the L2, was the first to undergo an SEC-qualified sale in the United States. The project explicitly decentralized with the mainnet launch in 2021. In the Stacks ecosystem, there are currently 30+ contributing entities including a non-profit Stacks Foundation, a developer tooling company Hiro, Xverse, Trust Machines, Mechanism, Bitcoin L2 Labs, ALEX, Bitcoin Frontier Fund, and more.
Press Contacts
Anchorage Digital - press@anchorage.com
Stacks - press@stacks.org
About Anchorage Digital
Anchorage Digital is a global 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, which is licensed by the Monetary Authority of Singapore, and self-custody wallet Porto by Anchorage Digital. 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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