THELOGICALINDIAN - Anchorage Digital has launched a new lending artefact in affiliation with BankProv Customers will be able to accept a acclaim band denominated in US dollars back they collateralize ETH
Anchorage has partnered with one of America’s oldest banks to barrage Ethereum-backed loans.
Anchorage Adds Lending Product
Anchorage Digital has launched ETH-backed loans.
The agenda assets aggregation has alien the new lending artefact in affiliation with BankProv, one of the oldest banks in the U.S. Anchorage audience can now lock up ETH as accessory and accept a acclaim band paid in U.S. dollars. Anchorage manages the ETH collateral, while BankProv is amenable for accouterment the acclaim lines.
Anchorage offers casework like custody, trading, and staking for crypto assets. Agnate to the new ETH offering, it additionally offers a BTC-backed accommodation artefact agnate with Silvergate. The aggregation describes itself as “the aperture to institutional crypto,” and its applicant abject includes abounding high-net-worth investors.
The barrage of an ETH-backed accommodation artefact is cogent because it highlights Anchorage’s appearance of ETH as an institutional asset. Abounding institutional investors accept started to accept BTC in contempo months, but ETH and added agenda assets tend to get overlooked. That’s started to change in contempo months, with CME Group launching ETH futures and growing interest amid alleged crypto whales. ETH additionally has a big few months ahead, with its EIP-1559 and Proof-of-Stake updates on the horizon. Once those upgrades accept shipped, there could be abounding added ETH-focused articles like the one Anchorage has aloof launched.
Disclosure: At the time of writing, the columnist of this affection endemic ETH, ETH2X-FLI, and several added cryptocurrencies.
