South Dakota-based Anchorage Trust Company is making history as the first federally-chartered bank in the US to receive permission to custody digital assets.
Founded in 2017, Anchorage Trust, now Anchorage Digital National Bank Association, announced in December that it had applied for a national trust charter following guidance from the Office of the Comptroller of the Currency (OCC) that granted permission to national banks to custody digital assets.
After undergoing extensive reviews and meeting rigorous regulatory standards, Anchorage revealed Wednesday in a press release that it has secured conditional approval for a national trust charter from the OCC.
“Having a national bank charter places Anchorage Digital Bank firmly on the same regulatory footing as other national banks in the country. Most immediately, it puts first-of-its-kind, sub-custody services within reach for any traditional financial institution that wishes to give its clients access to digital assets.”
As a national charter bank, Anchorage will be able to offer crypto services ranging from