Anchorage Digital Supports UMA and Loopring
Institutional clients can now hold Universal Market Access (UMA) and Loopring (LRC) in Anchorage Custody. Both protocols bring novel solutions to the Ethereum blockchain, with UMA offering open-source financial contracts and Loopring providing fast, lower-cost off-chain settlement. We’re proud to continue offering our clients exposure to the kinds of innovative emerging protocols they demand.
“We’re pleased that UMA supporters will be able to custody with Anchorage, and that more institutions can participate in UMA’s mission of scaling DeFi and bringing more access to financial markets.”
—Hart Lambur, Co-Founder, UMA
Anchorage has been committed to institutional participation in the DeFi ecosystem since its early days, supporting dozens of DeFi assets and working to bring wrapped layer one assets to Ethereum to powering Visa’s crypto-native settlement on Ethereum. With UMA and LRC, we’re pleased to support the continued development of the Ethereum ecosystem.
Universal Market Access (UMA)
UMA is a fast, flexible, and secure way to create financial contracts on Ethereum. UMA was created to make financial markets universally accessible by empowering developers to easily and securely create these synthetic assets through the use of “priceless contracts”. Priceless contracts remove some of the costs and complexities associated with early smart contract based assets on Ethereum, which required on-chain price feeds and were difficult to liquidate. UMA’s founding community members include former Goldman Sachs and Google alumni and advisors Chris Burniske, Jill Carlson, Noah Jessop, and Prof. Christopher Tonetti.
Loopring (LRC)
With transaction prices on Ethereum rising due to network congestion, Loopring uses off-chain layer-2 settlement and zero-knowledge proofs to make payments more efficient, cost-effective, and secure on the Ethereum blockchain. LRC is used for payment applications and transactions over order book exchanges and non-custodial automated market makers.
If you’re holding or plan to hold UMA or LRC, or if you’d like to learn more about Anchorage, 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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