Anchorage Closes in on FDIC Crypto Custodian Deal, Documents Show

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Anchorage Closes in on FDIC Crypto Custodian Deal, Documents Show
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SCOOP: Anchorage is close to finalizing a deal with fdicgov for custodian solutions, government documents show. thesamreynods reports.

The FDIC is a federal banking regulator in the U.S. tasked with providing deposit insurance for national banks. If one of these banks fails, its customers’ deposits are protected by up to $250,000 in insurance per account.in September that the commission was nearing a deal with Anchorage for these services.Regulatory requirements

Anchorage would also be required to build for the FDIC a “cryptoasset information list” which outlines what assets are being held by an institution, their value and any third-party usage of the asset such as being used as collateral for a loan via a smart contract. According to the document, Anchorage will be required to hold digital assets in cold storage, with private keys completely firewalled from local or external networks.

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