Odaily Frontline | New acquisitions + new businesses, this Libra founding member is accelerating expansion
This article comes fromThe Block, original author: Celia Wan
OdailyTranslator | Azuma
This article comes from
, original author: Celia Wan
OdailyTranslator | Azuma
Anchorage, a founding member of the Libra Association and cryptocurrency custodian, has completed the company's first acquisition - the acquisition of data analytics company Merkle Data for an undisclosed sum.
The San Francisco-based company made the official announcement on Wednesday local time. At the same time, Anchorage also announced that it will launch a brokerage service called "Anchorage Trading" for institutional clients. This new service allows investors to deposit cryptocurrencies in Anchorage for direct trading on its platform. Anchorage will charge a flat fee of 10 basis points (0.1%) per transaction.
Merkle Data was founded in 2018 to help clients spot manipulation and other risks in the cryptocurrency market. Anchorage said the company has now integrated Merkle Data’s products into the new transactional functionality.
Nathan McCauley, CEO of Anchorage, said: "Customer demand drives the market, and institutional investors want a single solution to meet all their needs in the encryption market-custody, trading, staking, voting, etc. Our The goal is for Anchorage to be that solution. Different service providers may take different approaches to meet the needs of customers, but given the current fragmentation of the B2B cryptocurrency market, we hope to see further consolidation.”
With the new expansion, the startup will compete directly with crypto brokers such as Tagomi and custodians such as BitGo that provide trading services. These three companies have received support from well-known venture capital institutions in the past, and the amount of financing is also considerable:
In July last year, Anchorage completed a $40 million Series B round of financing, with investors including Blockchain Capital, Visa, and Andreessen Horowitz.
Tagomi has received a total of US$28 million in financing, and investment institutions include Paradigm, Pantera Capital, etc. Sources say Coinbase is in "late stage" acquisition talks with Tagomi.
