Key Points
- Anchorage Digital has integrated Liquid Collective’s LsETH token into its platform to enhance services for institutional clients.
- LsETH allows institutions to stake their Ethereum (ETH) while maintaining liquidity.
Anchorage Digital, established in 2017 in San Francisco, has added Liquid Collective’s LsETH token to its platform. This move aims to improve services for its institutional clientele.
As the sole federally chartered crypto bank in the U.S., Anchorage Digital adheres to high regulatory standards. It offers custody, staking, trading, and other crypto services, thus garnering trust from its customers.
Company Profile and LsETH
The company has branches in New York, Porto, Singapore, and Sioux Falls. It boasts of prominent investors such as Andreessen Horowitz, Goldman Sachs, KKR, and Visa. These collaborations have helped it secure Series D funding and achieve a valuation of up to $3 billion.
LsETH, a groundbreaking product by Liquid Collective, offers a unique approach to Ethereum staking. It enables institutions to stake their ETH, all the while maintaining liquidity. Unlike traditional staking that often requires locking assets for a prolonged duration, LsETH allows institutions to hold a liquid staking token. This token represents their staked ETH and any staking rewards.
Benefits to Institutional Clients
With the integration of LsETH, Anchorage Digital can empower a wide array of institutional clients. These include venture capital firms, wealth and asset managers, and protocols, enabling them to participate in ETH staking while retaining flexibility.
Clients can securely hold their ETH on the Anchorage platform, receive LsETH tokens directly into their accounts, and manage their staking activities in a regulated and secure environment.
Achievements and Future Plans
Anchorage Digital Bank N.A. has reached a significant milestone by becoming the first OCC-chartered, U.S.-regulated bank to support liquid staking. This move positions the platform as a pioneer in this emerging space. It also expands the firm’s staking offerings and enhances client flexibility and access to ETH staking rewards.
Moreover, Anchorage Digital clients can utilize EigenLayer, a platform that enables restaking of LsETH tokens. This facilitates further participation in the Ethereum ecosystem. The integration offers a comprehensive solution for engaging in on-chain activities and amplifies the utility of staked assets.
CEO Nathan McCauley emphasizes that Anchorage Digital focuses on top-notch solutions for institutions. The addition of liquid staking allows clients to earn more while keeping their assets flexible. This initiative is a part of the company’s broader plan to expand its staking offerings. McCauley stated:
“Anchorage Digital is dedicated to providing institutions with access to industry-leading solutions, and we’re excited to expand our platform’s staking offering to include liquid staking participation. With LsETH, our clients gain a flexible staking option that allows them to access ETH staking rewards. Anchorage Digital is proud to enable institutional access to liquid staking through our secure, regulated offering.”
