Binance, Anchorage Digital Launch Triparty Custody Service for Institutions
JH Kim
Summary
- Global cryptocurrency exchange Binance said it will offer a triparty custody service for institutional investors with digital asset bank Anchorage Digital.
- Under the partnership, institutional clients will be able to use Binance trading services while keeping their assets at Anchorage Digital.
- The triparty custody structure uses an independent custodian to manage assets, aiming to improve asset protection and trading stability for institutional investors.
Forecast Trend Report by Period
Global cryptocurrency exchange Binance has partnered with digital asset bank Anchorage Digital to offer a triparty custody service for institutional investors.
Cointelegraph reported on July 30 that the partnership will allow institutional clients to use Binance’s trading services while keeping their assets in custody at Anchorage Digital.
Under the triparty custody model, the exchange does not directly hold client assets. Instead, an independent custodian manages the assets to bolster asset protection and trading stability for institutional investors.
JH Kim
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