Anchorage Digital has formally applied for direct settlement privileges with the U.S. central bank, potentially enhancing its operational capabilities in the cryptocurrency market.
Anchorage Digital, a cryptocurrency custody firm, has applied for a Federal Reserve master account, which would grant it direct settlement privileges with the U.S. central bank. This move marks a significant step toward integrating the firm into the traditional financial system. Anchorage is valued at over $1 billion and would gain access to centralized payment systems, bypassing intermediaries if granted the account.