The Provenance Blockchain Foundation, dedicated to supporting the development of decentralized financial services applications to deliver significant business benefits for its participants, today announced Anchorage Digital Bank, the first and only federally chartered digital asset bank with billions of dollars of digital assets under custody, will serve as its custodian for institutional banking for HASH token holdings and treasuries. As a preferred partner to The Provenance Blockchain Foundation, Anchorage Digital will also offer its institutional clients ability to custody HASH tokens.
“We are excited to support the Provenance Blockchain Foundation in its mission to provide the next generation of decentralized financial applications,” said Diogo Mónica, President and Co-Founder of Anchorage Digital. “Anchorage has always been committed to providing institutions with early access to interesting new digital assets, and Provenance’s focus on financial services provides an innovative evolution to decentralized financial applications.”
The Provenance Blockchain was built specifically for financial services and provides the first real opportunity to disrupt the space, significantly reducing costs for consumers and introducing new revenue opportunities for industry. Since its inception, the Provenance Blockchain ecosystem has grown to more than 50 financial institutions transacting on the blockchain and more than $3 billion in completed financial transactions. Earlier this year, several U.S. financial institutions launched the USDF Consortium to provide a bank minted USDF tokenized deposit and 24x7x365 payment rail on the Provenance Blockchain.
“Fostering protocols and early access that meets institutional custody standards is one more step in the transformational technologies in the rapidly evolving financial services industry,” said Morgan McKenney, CEO of the Provenance Blockchain Foundation. “Anchorage is an ideal partner as we continue to find new ways the Provenance Blockchain can add value and build out the network.”
About Provenance Blockchain Foundation
The Provenance Blockchain Foundation provides the world’s best ecosystem for developing and deploying DeFi applications. Provenance Blockchain Foundation supports the Provenance Blockchain and its participants through research and development, education, and governance. We believe a community-driven, open-source model based on the best-in-class, eco-friendly Cosmos/Tendermint internet of blockchains is essential for the success and wide adoption of the next generation of decentralized financial applications. The Provenance Blockchain is a public blockchain network designed and developed to support financial service industry needs by providing a ledger, registry, and exchange across multiple financial assets and markets. To learn more, visit https://provenance.io
About Anchorage Digital
Anchorage Digital is a regulated platform that offers institutions simple and secure participation in digital assets, all integrated with custody. Anchorage builds innovative products and custom integrations for banks and other institutions.