Anchorage Digital Deepens Ria Market Push By Acquiring Unit Of...
The deal folds adviser-facing tools into Anchorage’s platform while allowing Securitize to remain focused on tokenizing real-world assets.
Anchorage Digital, a federally chartered digital asset bank, has acquired Securitize’s investment adviser platform as it seeks to expand its reach among institutional investors amid the growing adoption of digital assets.
Anchorage announced on Monday that it has completed the acquisition of Securitize For Advisors (SFA), a lesser-known unit of Securitize, a company best known for its work in tokenizing real-world assets. Financial terms of the deal were not disclosed.
SFA is designed for registered investment advisers (RIAs); before the acquisition, it already relied on Anchorage for custody of client assets. By bringing the adviser platform in-house, Anchorage consolidates custody, trading and adviser-facing tools within a single platform, rather than operating across separate systems.
Anchorage is an institutional crypto platform that operates a federally chartered digital asset bank in the United States. In March, it was selected by Cantor Fitzgerald as a custody partner for Bitcoin (BTC).
For Securitize, the sale enables the company to focus more on its core tokenization business, according to Carlos Domingo, the company’s CEO.
Securitize has been accelerating its real-world asset strategy and is moving forward with plans to go public through a special purpose acquisition company sponsored by Cantor Fitzgerald. In May of last year, it raised $47 million in a funding round led by BlackRock.
Securitize is behind BlackRock’s tokenized money market fund, known as BUIDL.
Related: Anchorage Digital adds HYPE staking support through Figment partnership
Nathan McCauley, co-founder and chief executive of Anchorage Digital, said registered investment advisers are “driving one of the most important waves of crypto adoption,” likely in reference to growing institutional adoption of digital assets via spot exchange-traded funds (ETFs) to clients.
Source: CoinTelegraph
