US cryptocurrency platform Anchorage Digital has undertaken to sign partnerships with five Asian companies.
Cryptocurrency exchange Bitkub, management company Dream Trade, investment firm FBG Capital, venture capital firm IOSG Ventures and digital asset services provider Antalpha have been added to Anchorage’s list of partners. As representatives of the US crypto platform assure, the Asian partners chose Anchorage because of its strong regulatory status in the US. Anchorage Digital pays a lot of attention to this side of the business.
Anchorage co-founder and president Diogo Monica said the company chose Singapore as its “entry point” into the Asian market. It is the city-state that has become a hub for cryptocurrency companies because of its quality and friendly regulation of digital assets. The US platform is now in the process of obtaining a licence from Singapore’s regulator.
“We only work with institutional clients and they choose Singapore. That’s why we are expanding here as well,” Diogo Monica noted.
The co-founder of Anchorage said that since the collapse of the Terra ecosystem, Asian companies have significantly changed their approach to investing in cryptocurrencies. There is now a greater focus on asset security rather than functionality. Investors are also looking at regulation, risk management and company history.
According to Diogo Monica, Anchorage already has its own team in Singapore, with clients from that region contributing around 10% of revenue. Over the next 12-18 months, he expects the share of Asian companies in Anchorage’s business to increase to 25%.
At the end of June this year, Anchorage Digital launched an Ethereum stack for institutional investors.
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