According to Blockworks, Anchorage Digital now hosts tokenized U.S. Treasury fund shares through a partnership with Arca Labs to promote institutional participation in the field. Anchorage CEO Nathan McCauley said that the tokenization of physical assets will continue to be a "decisive trend" for institutional-grade cryptocurrencies in 2024. Arca's innovation unit first issued digital asset securities of its U.S. Treasury fund, ArCoin, in 2021. The company believes that ArCoin can replace U.S. Treasuries in corporate workflows while reducing costs and improving transparency. Now, the company has turned to Anchorage, a cryptocurrency-focused bank authorized by the U.S. Office of the Comptroller of the Currency (OCC), to host these shares. This alliance enables Anchorage's customers to keep ArCoin in the bank. Institutions can now access tokenized shares from the Anchorage platform, just like the hundreds of assets it supports. McCauley said Anchorage meets the U.S. Securities and Exchange Commission's definition of a "qualified custodian." âNow, as institutions have validated the benefits of blockchain technology, companies are looking for the most secure and seamless digital asset solutions that meet U.S. regulatory standards,â Arca Labs President Jerald David said in a statement.
