Anchorage, an Andreessen Horowitz-backed institutional crypto custodian, is now supporting Stellar and Tezos assets. The firm offers staking rewards between 1-7% and aims to compete with Coinbase and BitGo for institutional investors.
Institutional crypto custodian Anchorage announced support for Stellar and Tezos, becoming one of the first regulated entities to offer custody for Stellar. The firm attracts clients by offering staking rewards between 1-7% for participating token-holders, tax assistance, and secure active participation on custodied assets at low fees. Anchorage uses a proprietary storage solution rather than cold storage and provides end-to-end insurance coverage. The announcement follows the firm's $40 million Series B funding round backed by Visa and Blockchain Capital, positioning it to compete against established custodians like Coinbase, BitGo, and Fidelity.