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Anchorage launches new crypto brokerage service "Anchorage Trading"; acquires Merkle Data

Thu, 16 Jan 2020, 09:44 am UTC

Cryptocurrency firm Anchorage announced the launch of a new crypto brokerage service after making its first acquisition.

Nathan McCauley, Anchorage CEO, dropped two big announcements in the company's official blog on Jan. 15.

First, the company is launching a new crypto brokerage service, Anchorage Trading, targeted at institutional investors. The service will allow their current and future clients to buy and sell crypto through their expert traders. He also promised that they will continue to add new assets going forward including those requested by their clients.

Anchorage’s decision to launch its own crypto brokerage system service was driven by demand from its clients.

“Our clients have been asking us to provide brokerage from day one, because they're typically part of the same workflow. Clients buy assets and then deposit them into custody, or withdraw assets from custody in order to sell them. When one provider can do both, it simplifies things for clients significantly,” McCauley said in a statement sent to CoinDesk.

Second, Anchorage has acquired Merkle Data, a provider of risk and data solutions for crypto institutions. McCauley announced that it’s the company’s first acquisition. Merkle Data has earned a reputation for its “deep knowledge of crypto markets, unparalleled assessment of crypto liquidity, and rigorous asset pricing," he said.

In July, Anchorage Trust Company obtained a trust company charter from the South Dakota Division of Banking. They will have their headquarter in Sioux Falls.

“Our Division of Banking should serve as a model for how governments can study and learn about digital currencies, while at the same time allowing pioneering companies like Anchorage to innovate and try out new products and services,” U.S. Senator Mike Rounds of South Dakota said.

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