Anchorage Digital Expands Institutional Access With XION

XION, through its Generalized Abstraction approach to simplifying Web3 adoption, removes wallets, private keys, and gas charges. The blockchain is already being utilized by big global brands like Uber, Amazon Prime, BMW, Lacoste, Marvel Rivals, and The North Face.

Anchorage Digital, the original and sole federally chartered cryptocurrency bank, has added XION, a wallet-less Web2-Web3 bridging blockchain, to its institutional list of supported assets.

The integration will allow institutional investors to custody, stake, and trade XION securely, further expanding regulated access to digital assets. Asset managers, venture capital, and ETF providers can now interact with XION without the use of conventional exchanges through Anchorage Digital’s compliant platform.

The integration, which maintains a safe custodial setup for handling digital assets, is part of Anchorage Digital’s broader effort to provide institutions with seamless and efficient access to the digital asset ecosystem. It comes as institutional demand for cryptocurrencies and other digital assets continues to surge.

At the same time, the integration will allow XION to expand its reach to a wider audience of institutional investors, who are increasingly interested in investing in next-generation blockchain technologies.

“We are thrilled to welcome XION to our platform,” said Steve McErlean, Chief Revenue Officer at Anchorage Digital. “XION’s innovative wallet-less technology and focus on interoperability align perfectly with our mission to provide institutions with the tools they need to participate in the digital asset economy.”

XION is a new generation blockchain that streamlines Web3 adoption with its Generalized Abstraction approach. It eliminates the need for wallets, private keys, and gas charges, and is already being utilized by major global brands such as Uber, Amazon Prime, BMW, Lacoste, Marvel Rivals, and The North Face.

Anchorage Digital’s support will enable regulated institutions to join the XION network and comply with all applicable regulatory requirements.

“We are delighted to have the support of a licensed custodian like Anchorage Digital, which will simplify access for asset managers and venture firms to invest in XION,” said Burnt Banksy, CEO at XION. “This partnership is a significant step towards merging mainstream finance with the next generation of blockchain innovation.”

Furthermore, institutional investors will be able to stake XION through Anchorage Digital, earning regulated rewards while helping to secure the XION network. Anchorage Digital’s platform provides a variety of treasury management, staking, and liquidity services to help institutions efficiently integrate digital assets into their investment strategies.

With institutional demand for digital assets at an all-time high, Anchorage Digital’s integration of XION will create new opportunities for regulated financial institutions who are looking to gain exposure to blockchain technology. The addition of XION is part of Anchorage Digital’s broader effort to offer the most secure and compliant digital asset services in the market, allowing institutions to participate with confidence in the future of finance.

The post Anchorage Digital Expands Institutional Access With XION Integration appeared first on Benzinga.

May 24, 2023, Benzinga, a leading financial and business news portal, announced the integration of XION, a wallet-less Web2-Web3 bridging blockchain, into Anchorage Digital's platform. This partnership will provide institutional investors with the opportunity to custody, stake, and trade XION securely.

Key Highlights:

* Anchorage Digital, the original and sole federally chartered cryptocurrency bank, is expanding its institutional offering of digital assets.

* XION, a next-generation blockchain known for its wallet-less technology, has been added to Anchorage Digital's platform.

* The integration will enable institutions to invest in XION and other digital assets in a safe, compliant, and efficient manner.

* XION is already being utilized by major brands such as Uber, Amazon Prime, BMW, Lacoste, Marvel Rivals, and The North Face.

* The partnership marks a significant step towards merging the mainstream financial markets with the next generation of blockchain technology.

Seamless Access to Web3

XION's Generalized Abstraction approach simplifies Web3 adoption by eliminating the need for wallets, private keys, and gas charges. The blockchain provides seamless access for users of major platforms and services.

Institutional Involvement in XION

"We are thrilled to have the support of a licensed custodian like Anchorage Digital, which will simplify access for asset managers and venture firms to invest in XION," said Burnt Banksy, CEO at XION. "This partnership is a significant step towards merging mainstream finance with the next generation of blockchain technology."

Staking Opportunities with Anchorage Digital

Institutions can also stake XION through Anchorage Digital, earning regulated rewards while helping to secure the XION network. Anchorage Digital's platform offers a variety of treasury management, staking, and liquidity services to help institutions efficiently integrate digital assets into their investment strategies.

Meeting Evolving Financial Needs

"At Anchorage Digital, we are focused on expanding our offering of digital assets to meet the evolving financial needs of our institutional clients," said Steve McErlean, Chief Revenue Officer at Anchorage Digital. "XION's innovative wallet-less technology and focus on interoperability align perfectly with our mission to provide institutions with the tools they need to participate in the digital asset economy."