Anchorage Acquires Merkle Data, Launches Institutional-Grade Bitcoin Trading Platform
Anchorage, a digital assets custodial service provider for institutional investors, has announced the acquisition of Merkle Data, and the launch of Anchorage Trading, a crypto brokerage platform that will allow its clients to buy and sell bitcoin (BTC) and altcoins straight from Anchorage’s vaults through expert traders, without needing to transfer the assets to an exchange, according to a blog post on January 15, 2020.
Anchorage Expands Custodial Service
Leading cryptocurrency custodian, Anchorage has achieved another significant feat in its history by acquiring Merkle Data, a software-based portfolio risk management and analytics startup for cryptocurrency-linked businesses, and unveiling its crypto brokerage service for institutions dubbed Anchorage Trading.
As stated in its blog post, the Anchorage Trading will enable the firm’s institutional customers to easily buy and sell supported cryptocurrencies directly from custody through its dedicated professional crypto traders.
Having successfully rolled out is crypto custodial, staking and governance services, Anchorage has made it clear that its latest support for crypto trading is part of efforts to satisfy the yearnings of its clients, and it brings it a step closer towards its goal of becoming a one-stop-shop for its clients’ digital asset needs.
The team says Anchorage Trading is handled by its group of expert traders and it provides institutional crypto investors with broad liquidity from just one trading account, efficient order matching across multiple venues and more.
Making it Work
Explaining the reason behind its decision to acquire Merkle Data, Anchorage hinted that the former’s team of professional quantitative analysts, as well as its sophisticated risk modeling capabilities, makes it the best fit for Anchorage Trading.
What’s more, Anchorage says it plans to integrate Merkle Data’s technology into several other areas of its operations asides pure brokerage
Commenting on the acquisition, Louis Baudoin, CEO of Merkle Data reiterated that the new alliance will enable both firms to continue to provide crypto institutional investors with best-in-class services, while also strengthening the decentralized financial ecosystem. He added:
“For the past 18 months, Merkle Data has been developing the most advanced risk and data solution on the market, while Anchorage has built the most advanced and user-friendly custody solution. We’ve admired Anchorage’s team and product for a long time, and we couldn’t be more than proud to be joining them.”
Earlier in July 2019, reports emerged that global payments processor, Visa and Blockchain Capital, a leading crypto-focused VC firm helped Anchorage o raise $40 million during its funding round.