Anchorage Digital Integrates LsETH Token to Enhance Institutional Services
Anchorage Digital, established in 2017 in San Francisco, has integrated Liquid Collective's LsETH token into its platform to enhance services for institutional clients. As the only federally chartered crypto bank in the U.S., it adheres to high regulatory standards while offering custody, staking, trading, and other crypto services, thus reinforcing client trust.
Anchorage Digital operates offices in New York, Porto, Singapore, and Sioux Falls. Key investors include Andreessen Horowitz, Goldman Sachs, KKR, and Visa, enabling the firm to secure Series D funding with a valuation of up to $3 billion.
LsETH, developed by Liquid Collective, introduces an innovative approach to Ethereum staking, allowing institutions to stake their ETH while retaining liquidity. Traditional staking typically requires locking assets, limiting access. LsETH provides a transferable liquid staking token that represents staked ETH and any earned rewards.
Empowering Institutional Clients
The incorporation of LsETH enables various institutional clients, including venture capital firms, wealth managers, and protocols, to engage in ETH staking while maintaining flexibility. Clients can securely hold ETH on the Anchorage platform, receive LsETH tokens directly, and manage staking within a regulated environment.
Milestones and Future Directions
Anchorage Digital Bank N.A. has become the first OCC-chartered, U.S.-regulated bank to support liquid staking, positioning itself as a pioneer in this space. This expansion enhances client flexibility and access to ETH staking rewards.
Clients can also utilize EigenLayer, which allows restaking of LsETH tokens, facilitating deeper engagement in the Ethereum ecosystem. This integration offers an all-in-one solution for on-chain activities, enhancing the utility of staked assets.
CEO Nathan McCauley emphasized the focus on providing top solutions for institutions. The addition of liquid staking helps clients earn more while keeping assets flexible. This initiative aligns with the company's broader plan to expand its staking offerings. He stated:
“Anchorage Digital is dedicated to providing institutions with access to industry-leading solutions, and we’re excited to expand our platform’s staking offering to include liquid staking participation. With LsETH, our clients gain a flexible staking option that allows them to access ETH staking rewards. Anchorage Digital is proud to enable institutional access to liquid staking through our secure, regulated offering.”