According to Foresight News, Anchorage Digital, a crypto bank chartered by the U.S. federal government, has launched a global cryptocurrency settlement service named Atlas. The service supports the settlement of U.S. dollars and digital assets, including over-the-counter (OTC) settlements, off-exchange margin/collateral management, and off-exchange settlements with round-the-clock fund availability.
Atlas provides direct settlements on the blockchain between wallets, eliminating the need for intermediary institutions. This ensures that assets remain in the hands of all parties involved until the settlement is complete. Participants can also transfer or settle multiple types of assets in a single operation, reducing management costs.
Furthermore, through Anchorage's branch in Singapore, participants can engage with overseas trading counterparts. This development marks a significant step in the evolution of digital asset management and trading, offering a more streamlined and efficient process for participants in the cryptocurrency market.