Litecoin Lands on Anchorage
There are many different digital asset platforms that all try to offer something unique. In the case of Anchorage, the goal is to take crypto custody, trading, staking, and governance to a whole new level. It is a smart play to cater to the needs of institutional investors.
Since its inception, Anchorage has been adding support for a lot of assets. Noteworthy names include Bitcoin. Augur, Compound Gov, Dai, and so forth. A very long list of currencies, yet one of the top altcoins has always seemed absent” Litecoin. Not because the team doesn’t believe in this project, but simply because they put every coin through a rigorous review process first and foremost.
Earlier today, the company officially confirmed that Litecoin is supported by the platform. In the blog post, LTC is referred to as a “proven legacy asset” and how a “sizable group of institutions are interested in participating in the Litecoin network“. It is evident that there is a lot of appreciation for what Litecoin has brought to the table since its inception.
Many people tend to forget how Litecoin has a longer history than most of the popular assets in the crypto industry. That storied history is filled with a lot of stories, all of which tell a unique story.
Thanks to the support of Anchorage, institutional investors can hold and trade Litecoin with peace of mind and in a convenient manner. Custody services for LTC are apparently in high demand, which may indicate that there will be some big players entering this market over the coming months and years.
Continuing the Growth
Anchorage has been a very busy company in 2020. Not that long ago, the team announced Anchorage Financing. As the name suggests, it provides a different take on accessing capital based on one’s cryptocurrency collateral. Investors are often eager to explore this option, but run into potential security risks and other potential roadblocks.
Through Anchorage Financing, it becomes possible to obtain and monitor lines of credit through a familiar user interface. All of this can be done while their assets remain in the firm’s custody.
After all, one of the biggest concerns investors have is how security is affected if assets leave custody. Anchorage avoids that delicate issue altogether by offering this elegant solution.