Anchorage, a famous cryptocurrency custodian, has announced acquiring Merkle Data, a provider of accurate blockchain data.
The company has also launched its Anchorage Trading platform for institutional investors, as part of its plan to expand crypto business.
“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,” said Nathan McCauley, Anchorage CEO.
The deal will help Anchorage offer a full range of quality services to its customers, such as quantitative analysis.
“One of the reasons that Merkle Data and Anchorage make such a strong pairing is because both our organizations are working towards a safer and more accessible economy, strengthened by institutional investment,” said Merkle’s CEO Louis Baudoin.
“We are excited to bring our expertise to Anchorage and apply our technology to developing new solutions for institutional investors,” he added.
Anchorage has been creating a topnotch custody solution over the last 18 months, while Merkle Data has been developing the most sophisticated risk and data solution system.