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<p class="is-style-lead">Anchorage Digital, a leading crypto platform for institutional clients, has received approval for a BitLicense from the New York State Department of Financial Services.</p>
<p>The approval <a href="https://www.anchorage.com/insights/anchorage-digital-receives-new-york-bitlicense" target="_blank" rel="noopener noreferrer nofollow">authorizes</a> Anchorage Digital’s subsidiary, Anchorage Digital NY, LLC, to offer regulated crypto trading services to institutions based in <a href="https://crypto.news/tag/new-york/" target="_blank" rel="noopener noreferrer nofollow">New York</a>. Full capabilities are expected to be operational in early 2025.</p>
<p>You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/ethena-officially-launches-usdtb-stablecoin-backed-by-blackrock/"> Ethena officially launches USDtb, stablecoin backed by BlackRock </a></p>
<h2 class="wp-block-heading" id="the-bitlicense">The BitLicense</h2>
<p>The <a href="https://crypto.news/tag/bitlicense/" target="_blank" rel="noopener noreferrer nofollow">BitLicense</a> is one of the most sought-after licenses in the crypto industry, <a href="https://crypto.news/new-york-mayor-bitlicense-program/" target="_blank" rel="noopener noreferrer nofollow">allowing companies</a> to provide digital asset services within New York state under a stringent regulatory framework. This approval marks a significant milestone for Anchorage Digital as it continues to expand its institutional services.</p>
<p>Nathan McCauley, CEO and Co-Founder of Anchorage Digital, called the approval a “major step forward” for both the company and the digital asset industry. He highlighted Anchorage’s dedication to collaborating with regulators to meet the growing demand for secure and compliant crypto services.</p>
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   <p lang="en" dir="ltr">We are excited to announce that the New York State Department of Financial Services (<a href="https://twitter.com/NYDFS?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@NYDFS</a>) has approved our subsidiary, Anchorage Digital NY, LLC, for a BitLicense.<br><br>The addition of BitLicense-regulated trading means Anchorage Digital can offer institutions in New York State (… <a rel="noopener noreferrer nofollow" href="https://t.co/Ki7Ehn1F1I" target="_blank">pic.twitter.com/Ki7Ehn1F1I</a></p>— Anchorage Digital (@Anchorage) <a href="https://twitter.com/Anchorage/status/1868657585722892674?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">December 16, 2024</a>
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<p>As part of its expanded offerings, Anchorage Digital will now be able to provide services to New York-based registered investment advisors and large institutional asset managers. The company’s agency trading desk will enable these clients to access liquidity and execute trades within a regulated environment.</p>
<p>Anchorage Digital also offers custody and settlement services through Anchorage Digital Bank N.A., ensuring regulatory clarity and security throughout the trading process.</p>
<p>You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/hedera-taps-into-chainlinks-data-standard-to-boost-defi-and-rwa-adoption/"> Hedera taps into Chainlink’s data standard to boost DeFi and RWA adoption </a></p>

Anchorage Digital receives BitLicense from New York

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