Cryptocurrency company Anchorage has applied for a federal banking license with the Office of the Comptroller of the Currency (OCC) to become a qualified custodian.
According to a notice posted on the federal regulator’s website, Anchorage’s South Dakota division has filed an application with the OCC for a federal banking license. This year, Kraken cryptocurrency exchange became the first company in the industry to receive a similar license to open its own bank, but only in Wyoming.
If approved, Anchorage will become the first cryptocurrency company to receive a federal banking license allowing it to do business in all 50 states. In addition, Anchorage would have a clear mandate to act as a “qualified custodian” for institutional investors in accordance with the rules of the US Securities and Exchange Commission (SEC).
As a reminder, last week the SEC requested public comment on a number of issues, including which entities should be included in the definition of a “qualified custodian” and whether trust companies have the same characteristics as banks. Anchorage co-founder and CEO Nathan McCauley said:
“Anchorage is encouraged by the recent positive OCC progress on regulatory clarity for digital asset custody. We are interested in obtaining an OCC license in order to better meet the emerging needs of large banks looking to interact with cryptocurrency and to open up the benefits of BTC and other digital assets to our client base. ”
Recall that in September, the OCC allowed American banks to hold collateral for stablecoins, and recently the director of the agency, Brian Brooks, said that some American banks are considering the possibility of cooperation or purchase of cryptocurrency custodians.
