Cryptocurrency Custodian Anchorage Adds 5 New Custodianable DeFi Tokens

Anchorage, the first cryptocurrency custodian to receive a U.S. federal banking license, announced the addition of support for five DeFi tokens.

Cryptocurrency Custodian Anchorage Adds 5 New Custodianable DeFi Tokens

Anchorage is adding five new DeFi tokens to its custody vault, selected from DeFi’s core lifeblood of DEX and AMMs domains.

On Friday, Anchorage, the first cryptocurrency custodian to receive a U.S. federal banking license, announced that it will add support for DeFi tokens 1INCH, BNT, Curve Finance (CRV), REN, and SushiSwap (SUSHI).

DeFi investments have grown at an explosive rate, and as of this writing, the total locked-in value of Ether’s DeFi ecosystem is now over $85 billion. more than nine times.

In an interview, Anchorage’s CEO said, “Overall, it’s all based on customer demand for these tokens. Sometimes I’m even surprised at how sophisticated people are and how much they want to get into it. For example, we are responsible for hosting the Bitwise DeFi index, and then traditional hedge funds come right in and express their desire to buy these tokens or even use these networks. In addition to customer demand for specific tokens, the experimental nature of DeFi’s rapid growth meant that companies like Anchorage had to do some serious tweaking before adding a project. In order to support these assets, they need to be run through a fairly comprehensive due diligence asset-backed framework. This is a requirement for us to have a U.S. federal banking license.”

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/cryptocurrency-custodian-anchorage-adds-5-new-custodianable-defi-tokens/
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