Anchorage Trust Adds XRP to Asset List for Institutional Clients

Anchorage Trust Adds XRP to Asset List for Institutional Clients

Anchorage Trust Company, a qualified digital asset custodian, has added XRP to the asset list supported by their institutional custody solution.

In a blog post on April 2 the company announced support for the third-largest cryptocurrency by market cap.

Anchorage claims its custodial solution is safer than cold storage, while allowing the asset usability benefits, offering features such as staking, airdrops, and even custody trading.

Xpring Provide Reliable Solution

XRP support relies on resources, including those developed and maintained by Ripple’s developer platform, Xpring, according to Diogo Mónica, co-founder and President of Anchorage.

This includes most notably the rippled open-source server which is powering the XRP Ledger.

XRP’s custodial solution is available today to institutional investors, with plans to add additional services in the future. The study noted:

“The flexibility of the Anchorage platform will allow us to support more advanced XRP functionality like Payment Channels should customer demand require it.”

Anchorage was one of the Libra Association’s original members, and as with many Libra backers, it also joined forces with rival stablecoin, Celo, as part of its Celo Alliance for Prosperity.

It is also a member of the Blockchain Alliance and the Crypto Rating Council, and is supported by big names including Andreessen Horowitz, Blockchain Capital and Visa.

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Abdulhay Mahmoud 414 Articles
Abdulhay Mahmoud is a creative writer with over 15 years of experience in journalism, translation, and investor relations. He has B.A in English and Literature from a reputable University. He recently became a contributor at Cryptolydian.com to fulfill his thirst in reporting digital coins and blockchain-related news, an interest was built over the years.